Values rise in Italian coop banks on reports of changes

(ANSA) - Rome, January 19 - Shares in several of Italy's biggest cooperative banks, known as 'popolari', jumped in trading Monday on reports the government of Premier Matteo Renzi was preparing to debate changes to improve governance.
    Ubi shares rose by 9%, Bpm shares were up 12.36% and Banco Popolari rose by almost 9% as the FTSE Mib overall advanced by 1.36% to 19,516.
    Renzi's government has said little as yet about possible changes to banking laws affecting the popolari.
    But Italian media have said that the plans to be debated on Tuesday will include changing the present system that gives every shareholder one vote regardless of the size of that person's investment.
    Bloomberg reported that the proposals are designed to improve corporate governance of the banks and said the popolari have faced criticism in the past for concentrating power in the hands of local shareholders and local unions.
    Maurizio Gasparri of the centre-right Forza Italia said Monday that Renzi's centre-left Democratic Party (PD) should not push through such important changes using decrees or other sorts of legislation but must instead put them up for a full parliamentary debate.