Goldman Sachs reportedly has a fight on its hands from US investment banks and private equity firms eyeing rival bids for Banca Italease, after the Italian lender racked up losses of about €700m ($962m) from derivatives sold to retail investors.

According to Milano Finanza, an Italian newswire, Italian buyout firms including Clessidra are considering teaming up with Italian investment bank Mediobanca to make a bid or take a stake in the company. The newswire said Goldman might also face competition from other US investment banks.