January 21, 2020 / 7:26 PM / a month ago

Italy's Popolare di Sondrio denies full shareholder status to Amber Capital

MILAN (Reuters) - The board of Italian cooperative bank Popolare di Sondrio (BPSI.MI) rejected a request by investor Amber Capital to be granted full shareholder status, the lender said on Tuesday.

In Italian cooperative banks - where each investor has got one vote regardless of the size of its stake - shareholders must be included in a special register to get voting rights.

Popolare di Sondrio said the decision was based on the fact that Amber Capital’s stake exceeded a cap of 1% set by regulators with some exceptions.

Amber capital holds a 6.1% stake, both directly and indirectly, in Popolare di Sondrio.

Reporting by Andrea Mandalà, writing by Giulio Piovaccari, editing by Stephen Jewkes

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below