Banco BPM is assessing potential acquisition and merger alternatives in Italy, in line with Reuters, as chief government Giuseppe Castagna indicated a firmer method to doable transactions.
Castagna has repeatedly stated the financial institution is ready to think about additional consolidation strikes after Banco BPM acquired fund supervisor Anima final 12 months and prevented a takeover method from UniCredit.
His remarks got here after shareholders renewed his mandate as chief government and as market discuss intensified over the potential for a mixture with Monte dei Paschi di Siena.
Crédit Agricole is Banco BPM’s largest shareholder. Banco BPM additionally holds a 3.7% stake in Monte dei Paschi and, final month, was concerned in a tough shareholder vote that returned the Tuscan lender’s eliminated chief government to the position.
Castagna stated the financial institution was contemplating offers of various sizes involving lenders in addition to different companies that generate charges.
“It’s tough to say which one will materialise, however we’re reviewing all conditions,” he informed analysts on a post-results convention name.
He stated once more that Crédit Agricole’s Italian enterprise and Monte dei Paschi remained logical merger candidates due to present shareholder hyperlinks, whereas including that timing can be a key issue and that the current second won’t be appropriate for an settlement.
“Let’s wait and see to grasp what the opposite events are keen to do,” he stated.
Earlier this 12 months, Crédit Agricole obtained approval from the European Central Financial institution to extend its holding in Banco BPM to above 20%.
Through the third quarter of 2025, Crédit Agricole entered into spinoff transactions related to Banco BPM shares, permitting it so as to add one other 0.3% to its place.
These derivatives are anticipated to be settled via bodily supply, taking Crédit Agricole’s general stake in Banco BPM to twenty.1%.
“Banco BPM weighs deal choices in house market – report ” was initially created and revealed by Retail Banker Worldwide, a GlobalData owned model.
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