Milan, July 18 - Europe's fourth-largest bank Unicredit is close to a 300 million euro ($475.5 million) deal with Parmalat SpA over legal claims related to the bankruptcy of the Italian food group, a financial source said on Friday.
The source also said the impact on Unicredit books would be "negligible" as the payment might be done in cash and credits. A spokeperson for the Milan-based bank said a "deal was about to be finalised".
Financial newspaper il Sole 24 Ore said on Friday that Parmalat was close to a deal with Unicredit for 300 million euros as a part of an overall agreement with financial institutions over its 2003 collapse. Parmalat shares opened 4 percent higher in an overall weak market.