Reported 20 days ago
Sources indicate that the Italian government provided informal support to Credit Agricole prior to its announcement of raising its stake in Banco BPM from 9.9% to 15.1%. This move heightens the competitive landscape in Italy's banking sector, especially following UniCredit's recent takeover bid for Banco BPM. Credit Agricole aims to enhance its negotiating position while navigating regulatory approvals necessary for increasing its ownership, amidst ongoing consolidation efforts in the Italian banking market.
Source: YAHOO