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Passera Doesn’t Need Blind Trust, Italy Regulator Tells Corriere

Dec. 18 (Bloomberg) -- Intesa Sanpaolo SpA former Chief Executive Officer Corrado Passera doesn’t need to put his financial assets in a blind trust after becoming development minister, Italy’s antitrust chief told Corriere della Sera.

“There is no law forcing the minister to set up a blind trust,” the Milan-based newspaper cited Giovanni Pitruzzella, head the Competition Authority, as saying in an interview published today.

Passera said in a Dec. 6 interview on state-owned RAI television that he had yet to decide whether to sell his shares of Intesa, Italy’s second-largest bank.

To contact the reporter on this story: Lorenzo Totaro in Rome at ltotaro@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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