Reported about 7 hours ago
Banco BPM's board convened to discuss UniCredit's unsolicited €10 billion bid for Italy's third-largest bank, amid concerns from Italy's Treasury over a possible merger with Monte dei Paschi di Siena. The market views UniCredit's offer as potentially undervalued, with Banco BPM's shares trading higher than the bid price. The proposal is non-binding and must be finalized within 20 days. Meanwhile, UniCredit CEO Andrea Orcel is keen to engage with Banco BPM's investors despite past complexities involving partnerships and market competition.
Source: YAHOO