BANCA DI ROMA/BIPOP-CARIRE
PRESS RELEASE
THE BANK OF ITALY
PRESS RELEASE
The Bank of Italy and the Competition Authority have resolved to suspend any further investigations into the effect on competition of the merger between Banca di Roma and Bipop-Carire.
On the bank deposits markets, the investigations conducted by the Bank of Italy have shown that the merger will not interfere with competition in the Provinces where the two banking groups overlap.
On the managed funds markets, the results of the investigations by the Bank of Italy and the Competition Authority have shown that the merger will not restrict competition. Indeed, the managed funds market is highly competitive in view of the large number of major fund managers, Italian and foreign, which are able cater for the full range of requirements of the investor public, the increasing use of non-bank channels for selling investment products, and the lack of any substantial price differentiation on the various local markets.
Rome, 10 September 2002