Banco BPM: A Merger Model for Italy's Struggling Banks?
Shareholders of Banco Popolare SC and Banca Popolare di Milano Scarl approved Italy’s biggest banking merger since 2007, clearing the way to form the nation’s third-biggest lender. Banco Popolare investors overwhelmingly backed the union with 99 percent in favor, according to a company statement on Saturday. Popolare Milano shareholders voted 72 percent in support, Ansa newswire reported. Lonsin Capital Partner Marco Elser discusses the bank and the outlook for the Italian banking sector with Guy Johnson in London and Caroline Hyde in Berlin on "Bloomberg Markets: European Open."
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