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Court ruling plunges Antonveneta into chaos

Pop Lodi said situation 'ungovernable'

Banca Antonveneta was plunged into chaos today after an Italian court confirmed its current board is invalid. The €7.5bn ($9.2bn) bank is the target of rival bids from ABN Amro and Banca Popolare di Lodi.

The court in Padua yesterday upheld a May 21 preliminary judgement that the 15-seat Antonveneta board elected on April 29 was invalid.

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