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Financials

UBI Banca CEO says not considering Veneto Banca tie-up

ROME, May 18 (Reuters) - Italian lender UBI Banca is not studying any M&A options, the bank's CEO Victor Massiah said on Wednesday, denying a report in daily La Repubblica about a potential tie-up with smaller rival Veneto Banca IPO-VENE.MI.

“We already said we don’t have any dossier on the table,” Massiah said when asked about Veneto Banca.

In the coming weeks Veneto Banca will launch a listing of its shares on the Milan bourse to raise up to 1 billion euros ($1.1 billion) to fill a capital shortfall identified by European Central Bank supervisors.

La Repubblica reported on Wednesday that UBI Banca was mulling a tie-up with Veneto Banca, adding it could subscribe a portion of the smaller rival’s cash call. ($1 = 0.8871 euros) (Reporting by Stefano Bernabei; writing by Francesca Landini; editing by Agnieszka Flak)

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