The source says that Ji is dead in the popular Italy in Sondrio amid the European expansion plan

Written by Amy Joe Crowley

LONDON (Reuters) – A person with a knowledge of the issue said that Ji Group is dead with Panca Bubolari de Sondrio in Italy in recent weeks as it seeks to grow in Europe through acquisitions. The person said that the early stage discussions were not advanced and may not be submitted by the Dutch Bank.

Ji and Sondio refused to comment.

A competitor of Ing offered by 4.3 billion euros ($ 4.7 billion) by Bperca for Sondrio in February, which was the latest in a set of acquisition activity in the banking sector, Italy.

Berr and Sondrio as a major contributor to UNIPOL, the second largest insurance company in Italy, has approximately 20 % of each lender.

On Friday, Carlo Simbury, head of UNIPOL, said the foreign bank is studying a potential offer for Sindu to compete with Bper’s.

Speaking in presenting a multi -year UNIPOL plan, CIMBRI alluded to Ang as a possible address by saying that the bank interested in Sondrio was the color of the journalistic tie that was Orange.

Its headquarters is located in Wadi Vallelina, a wealthy mountainous area northeast of Milan. Sondio has recruited the help of Bank of America and Morgan Stanley as a defense advisor against Bper.

The person said that the bankers were talking to potential offers, speaking on the condition that his identity is not disclosed because the matter is special.

Sondrio has already offered a return of 1.5 billion euros to shareholders over 2025-2027, doubled the payment of compensation for the past three years, in a transfer to Bper’s support.

Bper said that her endeavor to Sondrio was a defensive step due to the wave of monotheism in the sector.

Ji said in February that she is looking for opportunities to buy competing banks in major European countries, including Italy, Spain and Germany to enhance their size.

The Dutch lender has been active as a retail bank in Italy since 2001, a leading digital bank in the country serving 1.275 million customers. She is currently looking to expand its deposit base by providing 4 % return for a year on new accounts that have been opened before the end of May.

($ 1 = 0.9236 euros)

(I participated in the reports of Amy Joe Crowley in London.