UniCredit said Wednesday that Italian
stock market regulator CONSOB has given it the green light to
make a offer to buy out fellow Italian lender Banco BPM, adding
that the operation will begin on April 28 and run until June 23.
Banco BPM has said the takeover bid is hostile.
French bank Credit Agricole, meanwhile, said Wednesday that it
has been authorized by the European Central Bank to raise its
stake in BPM to up 19.9%.
It said it intends to take its stake to 9.8% but will not
launch a takeover bid of its own.
Credit Agricole bought 9.2% of BPM in 2022 after a previous
attempt by UniCredit to take it over.
ALL RIGHTS RESERVED © Copyright ANSA
