Cleary Gottlieb Steen & Hamilton client ABN Amro is set to rekindle its bid for Italy’s Banca Anton-Veneta (BBVA) as the controversial battle for the bank threatens to undermine adviser confidence in Italy’s expanding deal market.

Italian lawyers are currently assessing the impact of the high-profile investigation launched last week into Italy’s central bank governor for alleged bias, in what is fast being viewed as a benchmark deal for Italy’s corporate market.