Word: antonveneta
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Dates: during 2000-2009
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...central bank Antonio Fazio tried to squash two bids by foreign banks for Italian ones. But his efforts quickly turned to a scandal after the publication of taped phone calls. Fazio finally quit just before Christmas - and one of the foreign bids, by Dutch bank ABN AMRO for Banca Antonveneta, eventually succeeded. Domestic politics remains a temporary risk, says Morgan Stanley's Pereira, but "the forces underlying European M&A trends are much stronger than any episodic national pushback." Indeed, mergers have a way of perpetuating themselves. Barrett says that chief executives of European companies are now under pressure from...
...call came just after midnight, and Gianpiero Fiorani knew immediately that the news was good. Antonio Fazio, Italy's central bank chief, was on the line to say he had just signed off on the bid by Banca Popolare Italiana (BPI) to take over another northern bank, Antonveneta. What neither man knew was that authorities probing BPI chief Fiorani's role in the attempted takeover were listening in. "Ah, Tonino, I'm moved," he said, addressing Fazio by an affectionate nickname, adding that he had "goose bumps...
...wake of the Fazio-Fiorani revelations, BPI's bid for Antonveneta has been blocked by magistrates, and its rival, Dutch bank ABN Amro, has taken a majority stake in Antonveneta, making it the first foreign owner of a major Italian lender. Meanwhile, Fiorani, under investigation for allegations of insider trading, market rigging and giving false statements, has resigned as BPI chief...
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