Published by Global Banking & Finance Review®
Posted on December 7, 2024
1 min readLast updated: January 27, 2026
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UniCredit is prepared to negotiate with Credit Agricole after the latter increased its stake in Banco BPM. The European Central Bank's approval is awaited.
MILAN (Reuters) - UniCredit is ready to sit down with Credit Agricole, a spokesperson for the Italian bank said in a LinkedIn post after the French lender increased its potential stake in Unicredit's takeover target Banco BPM.
UniCredit's bid for its smaller peer prompted Credit Agricole to say on Friday it had entered derivatives that would raise its stake in BPM to 15% from 9.9% once the European Central Bank gives its green light.
"Yesterday's news about Credit Agricole's increased stake in BPM changes nothing for UniCredit," the spokesperson for UniCredit said on social media network LinkedIn.
"We were always prepared to negotiate with CA, as this would have been necessary whatever the scale of their shareholding."
(Reporting by Valentina Za, editing by Gavin Jones)
The article discusses UniCredit's readiness to negotiate with Credit Agricole over Banco BPM, following the latter's increased stake.
Credit Agricole plans to increase its stake in Banco BPM to 15% from 9.9%, pending ECB approval.
UniCredit states that the increased stake by Credit Agricole does not change its position and it remains open to negotiations.
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