Credit where it is due.
I congratulate the Italian regulator for their ruling on the Antonveneto acquisition situation.
They have ruled that Banca Popolare di Lodi had indeed been allied with others in Italy in the purchase of shares and that they must launch an official all-cash offer.
Given the requirements of such an offer, it is possible that Lodi will have to withdraw from the game, making a takeover by ABN/Amro more likely.
In this situation, I wonder if that will make Antonio Fazio, the Governor of the Italian Central Bank, look harder at coming up with excuses to withhold approval for the BBVA attempted acquisition of Banca Nazionale del Lavoro.
To lose one Italian bank to a foreign one can be considered an accident. To lose two banks would be carelessness!
OAM
Related links:
Consob may force Antonveneta bid showdown
ABN Has Positive News From Italy
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