Banco Popolare shares down on talk BPM merger faltering

March 17, 2016 8:22 AM

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MILAN, March 17 Shares in Italian cooperative lender Banco Popolare fell more than 2 percent in early trade on Thursday, after press reports suggested merger talks with Banca Popolare di Milano (BPM) could break down.

Italian media said that BPM's union shareholders had contacted Andrea Bonomi, head of private equity fund Investindustrial and a former top investor in the bank, asking him to become BPM's new supervisory board chairman if the merger talks break down.

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