UPDATE 1-Popolare Milano CEO says open to looking at tie-ups

April 11, 2015 2:53 PM

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MILAN, April 11 (Reuters) - Banca Popolare di Milano is ready to start looking at possible tie-ups and would like to seal a merger before its planned conversion into joint-stock company in the next 18 months, the chief executive of the Italian cooperative bank said.

Italy has passed a landmark reform of the ownership structure of large cooperative lenders which forces them to drop their cooperative status and become joint-stock companies.

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