A proposed Spanish takeover of Banca Nazionale del Lavoro does not put in jeopardy the national identity of Italy's commercial banks, Prime Minister Silvio Berlusconi said today.
"I see no risks to the national identity of Italian banks," Mr Berlusconi told reporters on the sidelines of a meeting of conservative EU leaders in the Belgian town of Meise.
A group of Italian investors including Banca Monte Paschi di Siena is looking at joining forces to oppose the bid by Spanish bank BBVA for BNL in what would be the first foreign banking takeover, a political source said.
Along with BBVA, Dutch bank ABN AMRO has also challenged Italy over its limits on foreign takeovers.