Reuters: Financial Services and Real Estate: Consob says may delay decision on Unipol/Fondiaria bid

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Consob says may delay decision on Unipol/Fondiaria bid May 14th 2012, 11:39 MILAN | Mon May 14, 2012 7:39am EDT MILAN May 14 (Reuters) - Italian market regulator Conob will discuss a plan by insurer Unipol to merge with troubled peer Fondiaria-SAI but its decision on whether the deal would entail a compulsory bid may be delayed, Consob head said on Monday. "I don't know if we'll make it for tomorrow. (A decision on the bid) could be delayed," Giuseppe Vegas said on the sidelines of Consob's annual meeting. Sources close to the matter said last week Unipol was very close to reaching an agreement with Fondiaria-SAI and parent Premafin over plans for a merger that would give it a stake of around 62 percent in the merged entity. Unipol's offer is subject to regulatory clearances, including a waiver by market regulator Consob of the need to launch a mandatory bid on minority shareholders across the Fondiaria group. (Reporting By Andrea Mandala)

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