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 ROME (AP) - The boards of Unicredit SpA and Capitalia Spa approved their banks' planned merger, a deal that will create Europe's second-largest bank, the banks said in a joint statement.
Unicredit's board met Sunday in Milan while Capitalia's board gave its approval at a meeting in Rome.
The merger involves an exchange ratio of 1.12 new ordinary shares of Unicredit for each ordinary share of Capitalia, the banks said.
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