Banco Popolare CEO says tie-up with BPM within reach

March 19, 2016 9:45 AM

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Banco Popolare CEO says tie-up with BPM within reach

LODI, Italy Italian banks Banco Popolare (BAPO.MI) and Banca Popolare di Milano (BPM) (PMII.MI) are getting closer to meeting the conditions set by the European Central Bank to approve their merger and a positive outcome is within reach, Banco Popolare's CEO said on Saturday.

BPM and Banco Popolare have been discussing a deal for months that could lead to further mergers between Italian banks following a government reform aimed at strengthening a fragmented industry and improving profitability.

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