INTESA SAN PAOLO: EXTENSION OF THE NON-COMPLIANCE PROCEDURE AFTER FAILURE TO REDUCE CREDIT AGRICOLE SHARES TO LESS THAN 5%
PRESS RELEASE
PRESS RELEASE
Intesa Sanpaolo: Antitrust Authority extends the non-compliance procedure after failure to reduce Credit Agricole shares to less than 5% of the bank's capital
For the sole purpose of safeguarding the right to a fair hearing before the new contestation, the closing date of the procedure was pushed back to February 22nd, 2010.
On January 7th, 2010, the Autorità Garante della Concorrenza e del Mercato decided to extend the non-compliance proceedings against Intesa SanPaolo after failure to reduce Credit Agricole shares to less than 5 percent. The reduction in shareholding was supposed to occur by December 31st, 2009.
For the sole purpose of safeguarding their right to a fair hearing before the new contestation, the closing date of the procedure was pushed back to February 22nd, 2010.
Rome - January 7th, 2010