Italy’s Credito Emiliano and Cassa di Risparmio di Parma are jointly bidding for all of the 198 branches that bank Intesa Sanpaolo is selling, Reuters reports.
Credem would buy 116 branches, while Cariparma would buy the remaining 82, the banks said in a joint statement.
Intesa Sanpaolo is selling the branches to meet antitrust requirements after Banca Intesa merged with Sanpaolo IMI last year. At least 10 banks are bidding for all or some of the branches.
Banca Popolare dell’Emilia Romagna is bidding for part of the branches for sale in southern Italy, a source close to the cooperative bank said on Wednesday.