3/14  2.2  BPL’s application to increase its shareholding to 14.9 per cent of Banca Antonveneta’s capital  On 4 February BPL gave the Bank of Italy prior notification of a plan to acquire 14.9 per cent of Antonveneta’s capital. A formal application was sent on 11 February; the Bank of Italy granted authorization on 14 February, ten days after the notification.
The capital needed to ensure the sustainability of the transaction was to come from an existing surplus of own funds and the forthcoming issue of a € million subordinated loan for which authorization had already been obtained. The plan drawn up by BPL to strengthen its capital base by issuing additional instruments was designed to maintain a high solvency ratio even after the investment.