‘Aye’ for Italy’s third largest bank

MILAN: The shareholders of Banca Popolare di Milano (BPM) and Banco Popolare approved a merger between the two lenders, giving the final green light to the creation of Italy's third-largest bank by assets.

Investors in Verona-based Banco Popolare, who approved the deal overwhelmingly, had been widely expected to back the move, but BPM had to overcome opposition from a group of retired employee-shareholders.