Italy's BPER looking at equal or smaller rival for tie-up

April 18, 2015 4:24 PM

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MODENA, Italy, April 18 (Reuters) - Banca Popolare dell'Emilia Romagna (BPER) is looking at merging with an equal or smaller rival, its CEO said on Saturday, ruling out a tie-up with a larger cooperative bank such as UBI Banca or Banco Popolare.

Italian cooperative banks have begun considering combinations after parliament in March passed a reform that overhauls their governance, abolishing limits to ownership and voting rights that staved off potential takeovers in the past.

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