MILAN (AFX) - BNP Paribas' chief executive Baudouin Prot said he expects the offer for Banca Nazionale del Lavoro SpA to run from April 25 to mid-May.
The integration with BNL is seen generating synergies of 400 mln eur in the next three years, 250 mln of which are on the cost side, he added in a interview with Il Sole 24 Ore daily.
BNP will submit the bid prospectus to market regulator Consob on Tuesday or Wednesday, he said.
BNP Paribas has obtained all necessary regulatory approvals to acquire BNL. danilo.masoni@afxnews.com dm/dm/bam COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited