AGCM

METHODS OF PAYMENT: ANTITRUST OPENS INVESTIGATION INTO ACQUISITION OF CARTASÌ BY ISTITUTO CENTRALE DELLE BANCHE POPOLARI

Aim is to determine whether the operation may create or strengthen dominant positions in the issuance and management of credit cards.

The Italian Competition Authority, at its meeting on 11 February 2009, decided to open an investigation into whether the acquisition by ICBPI (Istituto Centrale delle Banche Popolari Italiane) of full control of SI Holding, owner of the CartaSì group, may create or reinforce a dominant position in the issuing of credit cards, in the signing up of participating retailers, and in IT activities relating to international payment cards used in the domestic market.

ICBPI, the banking group's holding company, specializes in designing and managing services for banks and banking and financial institution. Amongst other things it controls Key Client Cards & Solutions S.p.A., a company involved in various segments of the payment card industry, that operates in providing IT services through the Equens Italia company.

The operation in question foresees the acquisition by ICBPI of the holdings in SI Holding of Gruppo Intesa Sanpaolo S.p.A., Banca Monte dei Paschi di Siena S.p.A., Unicredito Italiano S.p.A., and other SI Holding shareholders who have accepted the terms of the operation.

The investigation must be concluded within 45 days from 11 February.

Rome, 12 February 2009