MILAN Dec 2 Italy's top administrative court on
Friday suspended some aspects of a landmark reform the
government passed in early 2015 to force large cooperative banks
to become joint-stock companies.
The reform, aimed at improving the banks' governance and
encouraging mergers, gave Italy's 10 largest "popolari" banks
until the end of this year to shed their cooperative status.
Only two of them, Popolare di Sondrio and Popolare
di Bari, have not yet asked shareholders to approve the
transformation. These two are planning to do so this month.
The court said in a statement it was suspending certain
elements of the reform as a precaution until the Constitutional
Court ruled on its legitimacy following appeals filed against
the new rules.
(Reporting by Valentina Za)