Ten banks were prepared to lend €7.2bn ($8.8bn) to Banca Popolare di Lodi, the Italian bank with a market value of €3bn, to fund its bid for larger rival Banca Antonveneta. Pop Lodi said €4.9bn was enough.

In a statement confirming the funding, Pop Lodi said the fact that bankers were prepared to lend €2.3bn, or almost 50%, more than the €4.9bn it requested confirmed "the strategic validity" of its bid.