In Italy, BPI - BANCA POPOLARE ITALIANA has agreed to BPVN - BANCA POPOLARE DI VERONA E NOVARA takeover offer, which will create the third biggest national banking group with assets worth €111bn, 2180 outlets and market share of 6.7%. In terms of stock market capitalisation, it will be in fourth place with €15.7bn. SAN PAOLO IMI has also acquired BANK OF ALEXANDRIA, the third biggest Egyptian bank in terms of assets, for $1.6bn.