Banco BPM CEO says rumours on a possible tie-up with UBI are groundless
Reuters
Published Jan 03, 2020 07:00
Banco BPM CEO says rumours on a possible tie-up with UBI are groundless
MILANO (Reuters) - Rumours about a possible tie-up between Italy's Banco BPM (MI:BAMI) and UBI Banca (MI:UBI) are groundless, Banco BPM Chief Executive Giuseppe Castagna said on Friday.
"The rumours were an abstract idea, a (theoretical) exercise by some investment banks", Castagna told newspaper Il Messaggero adding that "the consolidation of the Italian banking system is a path that sooner or later will have to be undertaken".
Banco BPM is due to announce its new business plan in the first quarter of 2020.
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Written By: Reuters
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