BPM enters the stock exchange, intending on investing in Banco-Agricolo Italia as the market anticipates a potential opportunity

In the world of international banking, a significant development is unfolding as Credit Agricole, a French bank with a strong presence in Italy, considers increasing its stake in Banco Bpm.

The bank's branches in Lombardy, Italy's wealthiest region, and its proximity to Small and Medium Enterprises (SMEs) are seen as valuable tools by Credit Agricole, which believes they could aid in strengthening its position in the Italian market, currently its second-largest after Paris.

One of the scenarios being contemplated is Bpm's acquisition of Credit Agricole Italia for an estimated €5.5 billion. This potential merger could be evaluated by Giuseppe Castagna, the helm of Banco Bpm.

Another potential merger under consideration is between Bpm and Mps, with both banks currently studying the possibility. The Siena hypothesis, a potential merger between Bpm and Mps, is also being explored.

The size of Credit Agricole's stake in Piazza Meda is a main sticking point for the operation. Rumours suggest that Credit Agricole is considering reducing its stake to no more than 35%. With a 35% stake, the operation would require government approval.

The acquisition would be funded with Anima shares, an asset management company managing €200 billion, which recently caught Credit Agricole's interest following Banco's acquisition of Anima in April.

Analysts at Equita consider the size of Credit Agricole's stake as a main issue for the operation. The prospect of a merger between Bpm and Mps, currently closing its offer for Mediobanca, is also being studied.

It's important to note that the specific managing director of Banco BPM involved in a potential merger with Credit Agricole Italia is not available in the provided search results.

The news of these potential mergers has sparked a positive response in the market. Shares of Banco Bpm rose by 3.96% and Crédit Agricole Italia's shares rose by 1.43% on Monday due to rumours of an integration.

Previously, Credit Agricole sought authorization from the European Central Bank to increase its stake to 20%, but this attempt was thwarted due to an offer from Unicredit on Banco Bpm. However, Unicredit later withdrew its offer at the end of July.

Credit Agricole has never hidden its desire to strengthen its position in the Italian market. The bank's interest in Banco Bpm, coupled with the potential mergers, underscores its commitment to this goal. As the situation unfolds, the Italian and European banking sectors will be closely watching these developments.

BPM enters the stock exchange, intending on investing in Banco-Agricolo Italia as the market anticipates a potential opportunity