Bank of Italy rejects Unipol bid

The Bank of Italy said on Tuesday 10 January it had rejected insurer Unipol's 5 billion euro ($6 billion) bid for BNL. The move marks the second domestic bank takeover offer to fail following the financial scandal that tarnished Italy's image.

"The Bank of Italy gave Unipol today the reasons that prevented it from agreeing to the authorisation for the takeover of BNL," the central bank said in a statement.

The central bank did not explain the reasons for its veto.

Unipol said in a separate state

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