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Andrea Orcel

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business1 year ago•2 min saved

UniCredit's Bold $11B Bid for Banco BPM Sparks Controversy

Banco BPM is set to discuss UniCredit's unsolicited $11 billion takeover bid, which has unsettled the Italian government and complicated efforts to form a new banking group in Italy. UniCredit's CEO Andrea Orcel has long targeted Banco BPM, and the bid comes amid recent deals that could reshape the Italian banking landscape. The offer values Banco BPM at €10.1 billion, but analysts note the premium is limited. Banco BPM's investors include Credit Agricole, which may have increased its stake through equity swaps.

via Yahoo Finance|

#andrea-orcel #banco-bpm #business

business1 year ago•2 min saved

UniCredit's $11B Banco BPM Deal Sparks Tensions in Rome

UniCredit has made an unexpected $11 billion bid for Banco BPM, prioritizing Italian banking consolidation over potential moves on Germany's Commerzbank. This move comes after Banco BPM's recent acquisition of a stake in Monte dei Paschi di Siena and a bid for Anima Holding. The Italian government plans to review the bid, highlighting political resistance to large bank mergers in Europe. UniCredit's offer includes a slight premium and aims for significant merger benefits, while Banco BPM's board will discuss the proposal.

via Yahoo Finance|

#andrea-orcel #banco-bpm #business