Saviotti hopes for Banco Popolare-BPM merger 20 Feb

Share price of both lenders soars

(ANSA) - Milan, February 12 - Banco Popolare CEO Pier Francesco Saviotti said Friday that he is hopeful the lender will complete a merger with BPM on the weekend of February 20.
    "We are hoping. We are working and we are close," Saviotti told reporters adding that the operation would not involve a capital increase. "There are some things to sort out. We are working to close. A little more time is needed but I'm confident". Banco Popolare's share price soared by 10.6% and BPM's rose 6.7% after Saviotti's comments.


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