The ECB has requested more information from Banco Populare and Banca ##zione di Milano for some clarifications on their plans to merge , which would delay the announcement of a merger . The two banks have already submitted a revised plan to meet ECB conditions , which includes strengthened capital ratios ; reports suggest the merged banks would be worth € 1.5bn , and would seek to raise capital by € 1bn . The deal , if and when it goes through , will create the third biggest bank in Italy .
The ECB has requested more information from Banco Populare and Banca Populare di Milano for some clarifications on their plan to merge, which could delay the announcement of a deal. The two banks have already submitted a revised plan to meet ECB conditions, which includes strengthened capital ratios; reports suggest the merged banks would be worth €1.5bn, and would seek to raise capital by €1bn. The deal, if and when it goes through, will create the third biggest bank in Italy.