Merger fears

Unicredito Italiano (UCI) has sent a letter to the employees of Polish banks Pekao and BPH, in which UCI president Alessandro Profumo states they should not fear the planned merger of the two banks as a result of UCI's (owner of Pekao) takeover of German HVB (owner of BPH). However, it did little to calm down employees, who still fear a spate of layoffs.