April 27, 2017 / 10:54 AM / 4 months ago

Popolare Vicenza chairman sees EU completing state aid assessment by mid-May

MILAN, April 27 (Reuters) - Popolare di Vicenza Chairman Gianni Mion expects the European Commission to complete by mid-May its assessment of a state aid request put forward by the Italian bank and rival Veneto Banca.

"Everything leads us to think that the conclusion of the exam may take place by mid-May," Mion told Reuters on the sidelines of an event.

He also said the restructuring and merger plan that the two ailing banks have submitted to EU competition authorities to be able to tap state funds envisaged cutting 200 branches in total, confirming a press report.

The two banks together have around 980 branches. (Reporting by Elisa Anzolin, writing by Valentina Za)

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