BFF Bank rises on Banco BPM, AMCO takeover rumors
BUZZ-BFF Bank rises on Banco BPM, AMCO takeover rumors ** Shares in Italy's BFF Bank BFF.MI rise more than 10% after media report of plans between Banco BPM BAMI.MI and state-owned bad loan manager AMCO to stabilise BFF Bank by splitting its business lines
** Under this plan, the public servicer would take over the factoring servicing arm, while Banco BPM would acquire payments and depositary activities, Italian financial daily MF reports
** The article adds that BFF intends to set the price for its planned securitization by summer, and then complete the transaction in Q3, suggesting that potential buyers of BFF might wait for it before taking action
** In March BFF Bank said the Bank of Italy had named two extraordinary commissioners to temporarily support the lender's board in rapid restructuring of its factoring business and internal control system
** Brokerage Equita believes visibility on BFF will only emerge after the Bank of Italy’s response to the capital conservation plan and the completion of the potential securitization
** MF says Banco BPM did not comment on the story
(Reporting by Mirko Miorelli)