Reported 18 days ago
Credit Agricole SA has raised its stake in Banco BPM from 9% to approximately 15% to protect its business interests in Italy following UniCredit's takeover bid. This move strengthens Credit Agricole's negotiating position in its dealings with both Banco BPM and UniCredit, as it seeks to leverage its stake in ongoing discussions. The French bank, a significant partner of Banco BPM in consumer credit and non-life insurance, aims to solidify its role in the Italian market amidst these developments.
Source: YAHOO