Sanpaolo chairman rules out Fideuram takeover-paper

Newswire

MILAN, Nov 29 (Reuters) - Italian bank Sanpaolo IMI does not plan a full takeover bid for its unit Banca Fideuram, Sanpaolo's head was quoted as saying on Saturday, responding to a market talk that hit Fideuram shares in November. Shares in Fideuram, 73-percent owned by Sanpaolo, have lost some nine percent since mid-November, on rumours that the Turin-based bank could take over Fideuram, merge it with peer Mediolanum , or take over Fideuram's fund management activities while concentrating ...

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