ROME, Aug. 26 (UPI) -- The embattled Bank of Italy governor Friday defended his involvement in an international takeover battle for one of the nation's banks.
Antonio Fazio, who is accused of intervening to stop Dutch bank ABN Amro from buying Banca Antonveneta, told a government investigating panel in Rome that he acted "scrupulously." He also submitted a 24-page report on the affair, the BBC reported.
Specifically, Fazio is believed by critics to have improperly cooperated with ABN Amro rival Banca Popolare Italiana, an Italian bank, to keep Banca Antonveneta out of non-Italian hands.
Without Fazio's help, critics say, BPI would never had had the financial clout to get some 30 percent of Banca Antonveneta.
The full government cabinet will be briefed on Fazio's report next month.
