MILAN (Reuters) - BPER Banca believes conditions are not in place for it to take over troubled rival Carige, a source at Italy’s sixth-largest bank said on Tuesday.
An Italian daily reported that BPER had been considering a possible rescue of Genoa-based Carige, which is racing against the clock to find a buyer to stave off the risk of being liquidated.
The source said that based on information currently available, conditions were not in place to consider a tie-up.
The source added BPER would only pursue mergers which allowed it to meet goals set under its recent business plan, with a view to preserving healthy capital ratios and speeding up a bad loan reduction plan.
Reporting by Valentina Za, editing by Silvia Aloisi