Bankers in Chase Manhattan Corp.'s London office are trying to drum up commitments for what would be the mother of all syndicated loans, a bank source said.

The bank is lining up a loan package that could exceed $20 billion to help finance Olivetti SpA's $57.3 billion hostile bid for Telecom Italia SpA. Chase is one of four banks advising and helping fund the deal. Commitments are due by the end of the month. A bond deal is also expected.

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