Consob, the Italian financial markets regulator, has frozen Banca Popolare Italiana's €7.5bn ($9bn) takeover offer for its larger rival Banca Antonveneta because of a "serious lack of information" in its offer documents and concerns over financing.

Dresdner Kleinwort Wasserstein and Lazard are advising Pop Italiana, formerly called Pop Lodi, on its €24.47 per share cash offer for Antonveneta and a separate cash and shares offer which it says is worth €27.50 per share.