Quaestio Capital Management SGR, which manages Italy'sAtlante bank rescuefund, said it received approval from the ECB and the Banca D'Italia to acquire a more than 50% stake inBanca Popolare di VicenzaSpA, Reuters reported April 26.

Italy's market regulator reportedly said that the fund wouldnot need to submit a takeover bid for Popolare di Vicenza after the lender'srights issue.

The lender aims to raise between €1.5 billion and €1.8 billion via a rightsissue, with at least €375 million earmarked for an Italian public offering. Astock market listing is scheduled for May 3.

Quaestio, on behalf of the Atlante fund, agreed tosub-underwrite therights issue and extend its sub-underwriting commitment even if thecapital increase is not fully subscribed and the shares of the bank are notadmitted to listing.