The second largest Spanish bank BBVA-BANCO BILBAO VIZCAYA ARGENTARIA has launched a public exchange offer on the sixth largest Italian bank BNL, in which it holds 14.7% of the capital. BBVA will proceed with a capital increase with a nominal value of 260.25 million euros with the release of 531.13 million new shares. The Spanish bank one newly released share for five in BNL, valuing the 85% of the capital that it wants to buy at around 6.6 billion euros. The Bank of Italy, which is extremely...