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5/20/07

Press TV: Two Italian banks create Europe's 2nd biggest bank by Market Value

For the full report from the Press TV click on this link

As Barclays slugs it out with Royal Bank of Scotland for ABN Amro, the focus of consolidation in the continental European banking sector switched to Italy yesterday.

The Milan-headquartered UniCredit will acquire the smaller rival Capitalia for more than euro 21.33 bn after the board of directors of both banks met yesterday to approve a deal to create the Europe's second-biggest bank by market value.

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