Banca Nazionale del Lavoro's chairman on Saturday said he was ready to talk about an industrial collaboration with insurer Unipol, said to be considering a takeover bid for the Italian bank. A source familiar with the matter told Reuters on Friday a counter-bid by Bologna-based Unipol was unlikely, but it did not rule it out. Unipol, part owner of an insurance joint venture with BNL, has said it wants to strengthen its relationship.
"If it's true ... that Unipol is interested in analysing and developing an industrial collaboration with BNL, it is logical that they should speak to its chairman," Abete told reporters at an industry convention, adding he was open to a meeting.
BNL, Italy's sixth largest lender, is already subject to a 6.5 billion euro ($7.98 billion) takeover offer from Spain's Banco Bilbao Vizcaya Argentaria which would be the first major foreign takeover of an Italian bank.
But the bid has been opposed by some core shareholders, some of whom have said the bank should remain in Italian hands. Stakebuilding by Unipol in recent weeks has raised speculation the insurer could be about to present an Italian counter offer.
Italian newspapers on Saturday reported Unipol's board could meet as early as Sunday to decide whether to launch a bid.
Abete declined to comment on the rumours, but he reiterated he would welcome any counter offer.
"I have always said that the way to respond to one takeover offer is to launch another takeover offer because that is the only way to take into account the interests of all shareholders, both big and small and the interests of the business," he said.
Unipol, owner of a 10 percent stake in BNL, was not immediately available for comment on the newspaper reports.
Many of the same Italian investors who own BNL are also present in a parallel takeover tussle for northern Italian bank Antonveneta, which pits Dutch ABN Amro against a much smaller local bank Popolare di Lodi.
The presence of the same Italian investors in the counter bid camps for BNL and Antonveneta has led to speculation there is a plan for the banks to be bought by Italians and merged.
Such a deal would fit with the merger scenario the Bank of Italy's nationalist Governor Antonio Fazio has repeatedly said he favours. Fazio, who is the ultimate arbiter in Italian bank mergers, has already been warned by the European Commission to treat foreign and domestic bids equally.
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