One complex point that arose in the course of the examination was the fact that ABN Amro was in possession of bonds convertible into Antonveneta shares; conversion of these bonds would have had major effects on the ownership structure and governance of Antonveneta.
On 19 April, seven days after the formal application was made, the Bank of Italy authorized ABN Amro to increase its shareholding in Banca Antonveneta to 20 percent.