Intesa Sanpaolo SpA (ISP.MI) Chief Executive Corrado Passera said Monday the bank is likely to tender its Parmalat (PLT.MI) shares to French dairy company Groupe Lactalis.

Speaking at the sidelines of an event in Milan, Passera said that after withdrawing its Parmalat board member candidates list, "it is likely that the bank will sell its shares" to Lactalis.

Lactalis is offering EUR2.60 a share for the 71% of Parmalat it does not already own.

Intesa owns just over 2% of the Italian dairy group.

-By Sabrina Cohen, Dow Jones Newswires; +39 02 582 19901; sabrina.cohen@dowjones.com

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