Pop Milano sits pretty as Italy cooperative banks brace for M&A

April 26, 2015 11:34 AM

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MILAN, April 26 (Reuters) - At least five investment banks are vying to win a mandate from Banca Popolare di Milano (BPM) and find it a partner as Italian cooperative lenders gear up for a wave of mergers following a landmark reform of the sector.

The Milanese bank, Italy's seventh-largest by branches, has been dubbed by industry watchers the "belle of the ball" among large cooperative lenders that are looking at tie-up options as they are being forced to drop their cooperative status.

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