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Banca Etruria plans to become a joint-stock company to help merger
August 11, 2014 / 4:07 PM / 3 years ago

Banca Etruria plans to become a joint-stock company to help merger

MILAN, Aug 11 (Reuters) - Small Italian cooperative lender Banca Popolare dell‘Etruria e del Lazio is planning to become a joint-stock company to help it find a merger partner after the collapse of talks with bigger rival Popolare di Vicenza.

In a statement on Monday, the bank said its board had given a mandate to Chairman Lorenzo Rosi to look at transforming the bank into a joint stock company “in the next few months” to make it more attractive also for institutional investors, such as investment funds.

It said it had picked investment bank Mediobanca to help it find a partner, also at the international level.

Reporting by Silvia Aloisi

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