MILAN Dec 16 Italy's Banca Popolare di Sondrio
said its shareholders would not be able to vote on
Saturday on the proposed transformation of the cooperative bank
into a joint-stock company following a ruling by a Milan court.
Italy passed a new law last year which compelled the 10
largest "popolari" banks to become regular joint-stock companies
to improve governance and profitability.
Popolare di Sondrio and Popolare di Bari are the two
remaining lenders which are yet to adopt the changes.
The reform was thrown into doubt earlier this month when
Italy's top administrative court said some aspects of it could
be unconstitutional and suspended them pending a ruling by the
country's constitutional court.
The Milan court issued an emergency decree blocking the vote
over Popolare di Sondrio's transformation following an appeal by
one of its shareholders, the bank said. A hearing is scheduled
for Jan. 10.
(Reporting by Valentina Za; editing by Agnieszka Flak)