ITALY'S BNL NEGOTIATING PURCHASE OF GERMAN BANK
Italy's state-owned <Banca Nazionale Del
Lavoro-BNL> said it is negotiating to buy a West German bank as
part of its foreign expansion policy.
    BNL president Nerio Nesi told a news conference the Italian
bank was currently involved in talks but declined to name the
German institution.
    He said the takeover move could be seen as BNL's reply to
Deutsche Bank AG <DBKG.F>, which entered the Italian market in
December 1986, with the purchase of BankAmerica <BACN>
subsidiary <Banca D'America e D'Italia>.
    Nesi said BNL had also approved a 200 mln dlr credit line
to the Soviet Union aimed at enabling Soviet companies to pay
for Italian imports. He gave no further details.
    BNL officials said the group had also decided to increase
its activities in the Soviet Union by opening a representative
office in Moscow this month through its subsidiary <Sogecred>,
which specialises in Italian-Soviet trade.
 REUTER
