Aconfidential Mediobanca Securities study for investors valued atbetween €1.1 billion and €1.6 billion, Reuters reported April 11.

The valuationrange, which excludes hard-to-quantify potential legal and liquidity risks,takes into account unfavorable market conditions and subdued 2018 profitestimates for the lender, the report said.

Popolaredi Vicenza needs to list its shares on the Italian stock exchange byMay 10 and a proposed €1.76billion capital increase to meet ECB capital requirements, the newswire noted.

Ajudicial probe is investigating the bank for alleged false accounting, marketmanipulation and obstruction of regulators' duties, the report added.