PIPS

PIPS

Consolidation in the European banking sector continued last week with the announcement of a series of link-ups in Italy. UniCredito Italiano launched a share exchange offer for Banca Commerciale Italiana (BCI), to form a new, larger group called Eurobanca. In a similar move, San-Paolo-IMI is set to merge with Banca di Roma, after San-Paolo's board approved a proposal to swap two of their shares for every 19 Banca di Roma shares. These two latest alliances follow the merger between Cariplo a

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