UNIPOL BID FOR BNL CLEARED BY CONSOB

The Italian stock market regulator Consob has cleared the bid by Italian insurer Unipol for Banca Nazionale del Lavoro (BNL), but it has asked for additional information from Unipol, although Unipol would not reveal the nature of Consob’s follow-up enquiry. Unipol still awaits approval from insurance regulator Isvap and the central Bank of Italy. The insurer plans to offer 2.7 euro a share for the 59.31% stake in BNL that it does not already own.