Unipol sees BPER, Pop Sondrio merger as "mistake", no plans to raise stakes
BARCELONA, Sept 17 (Reuters) -Unipol UNPI.MI, the main shareholder in banks BPER EMII.MI and Popolare di Sondrio BPSI.MI, has no plans to raise its holding in either bank and would consider a merger between the two "a mistake", Chairman Carlo Cimbri said.
Speaking to reporters on the sidelines of the Louis Vuitton Cup in Barcelona, Cimbri opened up to the idea of buying a limited stake in Monte dei Paschi BMPS.MI if that allowed Unipol to strike an insurance deal with the state-owned bank.
As for the banks in which Unipol is already invested, Cimbri said they were very different and Popolare di Sondrio was more profitable than BPER, which has grown through acquisitions in recent years, and bringing them together would be a bad idea.
Reporting by Andrea Mandala; Writing by Valentina Za; Editing by Giulia Segreti
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