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Banco BPM
Trends
- 1
UniCredit is at the centre of Italy's banking debate as analysts raise their outlooks. Equita lifted its target price, seeing upside to 110 euros in a scenario combining Commerzbank and HVB, while Citi also raised its target, citing the bank's push to open new branches in Italy. The moves come alongside wider merger chatter, with Banco Bpm's chief Castagna open to a tie-up with French banks and MPS shareholders weighing rival proposals.
- 2
Luigi Lovaglio, head of Monte dei Paschi di Siena, said a UniCredit intervention in the bank is "an option", signalling openness to a possible deal. He also commented on Intesa Sanpaolo's takeover offer for Banco BPM, saying the price should be revised. His remarks are drawing attention in Italy as consolidation among the country's banks accelerates.
- 3Credit Agricole weighs potential acquisition of Italy's BPM●Credit Agricole is studying a range of options to strengthen its business in Italy, including a potential acquisition of
Credit Agricole is studying a range of options to strengthen its business in Italy, including a possible acquisition of Banco BPM, in which the French bank already holds a stake of almost 30%. The two groups have been long-time partners, and a full takeover would mark a significant consolidation step in the Italian banking market. Observers are watching whether the French lender will move ahead with a bid.