(Teleborsa) – The number one of Banca Popolare di Milano, Giuseppe Castagna, once again pleads the cause of the merger with Banco Popolare, stating that if the shareholders do not approve it, the bank would be "easily scalable" and its employees would find themselves "without protections".
The manager said so in an interview with Il Sole 24 Ore, underlining that attendance at the next meeting on 15 October will be crucial.
In fact, Castagna explained that BPM should "become a Spa in any case" and that, in the event of rejection of the marriage with Banco, it would then be necessary to "convene again the shareholders' meeting for the Spa, which is mandatory by law by the end of the year". "The risk - he added - is that we go towards an unmanaged merger operation, where only those who aggregate will count, and in any case where there can only be a less favorable condition".
The situation of the Banco Popolare is different where, apparently, the quorum is "armored".
