ABN/Capitalia Stuck in the bog – again

Despite its success in buying Antonveneta last year, ABN Amro remains an innocent when it comes to Italian bank politics. That’s why its latest attempt to expand on the Italian peninsula has run into the sand. ABN probably thought it was on strong ground in making an approach to Capitalia, the E16bn Roman bank in which it is the largest shareholder. Italian bank consolidation is hotting up, and Capitalia needs a partner. One option - merging with Sanpaolo Imi – is off the table because Sanpaolo...