Banken: Credit Agricole stemmt sich gegen Verkauf von Banco BPM
Der größte Aktionär der italienischen Bank sieht die Übernahme durch Konkurrent Monte dei Paschi laut einem Bericht kritisch. Credit Agricole verfolgt demnach eigene Pläne.
Credit Agricole, the largest shareholder in Italian banking firm Banco BPM, is reportedly opposing a potential sale of the institution to its larger rival, Monte dei Paschi, according to a newspaper report. The French banking giant, which holds a 29.3% stake in BPM, views the acquisition offer from Monte dei Paschi as unattractive and doubts its benefit to shareholders, reported Italian daily "La Stampa" on Tuesday.
Credit Agricole made this clear in conversations with Monte dei Paschi's CEO, Luigi Lovaglio, just a few days ago, the report added. Instead of selling to Monte dei Paschi, the French bank would prefer to merge its own Italian subsidiary with BPM, the story said. Lovaglio had announced parallel takeover offers for BPM and Banca Generali in Milan and Verona in August, part of his defensive strategy against a hostile takeover by the Italian market leader, Intesa SanPaolo.
However, both offers hinge on Lovaglio winning over his own shareholders for the plan, which is set to be voted on on October 29. Monte dei Paschi and Credit Agricole declined to comment on the report. The French bank had already indicated they would not entertain a "merger under equals" scenario, which Monte dei Paschi and BPM had discussed - ultimately without success. For Credit Agricole, Italy is the second-largest market.
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