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Report: Italian court rules out Intesa from Popolare di Vicenza proceedings

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Report: Italian court rules out Intesa from Popolare di Vicenza proceedings

An Italian judge scrapped a request to include Intesa Sanpaolo SpA in a case regarding the crash of Banca Popolare di Vicenza SpA, Reuters reported, citing a court ruling.

In 2017, Intesa acquired troubled Venetian lenders Popolare di Vicenza and Veneto Banca, which were put in liquidation after prolonged mismanagement and poor operations, for a symbolic €1 price.

The judge also ruled against including the Bank of Italy and market regulator Consob in the criminal proceedings, which concern Popolare di Vicenza ex-Chairman Gianni Zonin, the Feb. 8 report said.