Former Barclays chief executive Bob Diamond’s private equity firm Atlas Merchant Capital is part of a consortium of US funds exploring ways to take over two troubled Italian banks held by Italy’s bank rescue fund Atlante, people familiar with the matter said on July 14.

Atlas Merchant Capital, Warburg Pincus, Baupost Group and Centerbridge Partners have held talks with fund officials about buying and combining Banca Popolare di Vicenza and Veneto Banca, the people said. No firm indication of interest is expected until after the summer.