Banca Popolari di Lodi, bidding for Italian Banca Antonveneta, disclosed today that it has agreed a three-year shareholder pact to derail a rival offer from Netherlands bank ABN Amro.

The move comes on the day ABN Amro formally launched its €5.8bn ($7.3bn) offer for Antonveneta; commenced further legal proceedings at Pop Lodi; and an EU spokesman said further information was still being sought on Italian banking policy.