Publication of transcripts of telephone conversations between businessmen and bankers, some involving central bank governor Antonio Fazio, added spice to the speculation.
Magistrates had ordered phone taps of people under criminal investigation in connection with BPI’s controversial bid for Antonveneta, for which Dutch giant ABN AMRO had made an offer. Some conversations also involved large shareholders in BNL, for whose ownership Spain’s BBVA was bidding. Since the phone tap revelations on dubious dealings and questionable relationships in Italian business and banking, BBVA has said it is no longer interested in BNL.
