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Deals Rumor Mill: Banco Popolare, Total, Blackstone Group

By Benjamin Horney (March 23, 2016, 9:29 PM EDT) -- The European Central Bank has granted informal preliminary approval to the planned merger of Italian cooperative banks Banco Popolare SC and Banca Popolare di Milano, Reuters reported on Wednesday. The report comes one day after rumors that the ECB had requested further detail regarding the deal and that the transaction could be delayed longer than it already has been. The deal, which has been rumored for a few months now, would create Italy's No. 3 bank with a market value of almost €5 billion ($5.7 billion), according to reports....

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