Today´s Financial Times, in an article about the difficulty for foreign banks to take over italian banks, quoted anonymous bankers as receiving pressure from Banco Bilbao Vizcaya Argentaria, who with ABN/Amro is one of the two banks attempting a takeover of an italian bank (in this case, Banca Nazionale del Lavoro). Local investors are relying on significant loans to be able to launch competing Italian bids.
Is it legal for BBVA to have these sort of conversations with their bankers, to try to disuade them from participating in the financings backing the competing bid?
Onésimo Alvarez-Moro
See article:
In the long-running battle for control of two mid-sized Italian banks, much debate has focused on the role of the Bank of Italy and Antonio Fazio, its governor.
Equally important has been the willingness of large international banks to commit billions of euros of capital, helping to finance the bids that look set to keep Banca Antonveneta and Banca Nazionale del Lavoro in Italian hands.
See full Article (paid subscription required).
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