Banco BPM shares up on report of joint UniCredit-Agricole takover move

On Monday, shares of Italian bank Banco BPM surged by more than 3% following a report from the Italian daily Il Sole 24 Ore. According to the report, French banks UniCredit and Crédit Agricole are exploring a potential joint takeover of the Italian lender, with Crédit Agricole being the largest investor. The proposed move, while not detailed in the report, comes at a time when Italy's banking sector is undergoing consolidation.

Banco BPM is currently under an unsolicited all-share offer worth €25.3 billion from Monte dei Paschi di Siena (MPS), unveiled in August as a defensive strategy against Intesa Sanpaolo's €35 billion takeover attempt. Crédit Agricole, which owns a 29.3% stake in Banco BPM, has expressed opposition to the MPS offer, favoring instead a merger between its Italian retail arm and Banco BPM.

This joint takeover report, coming amid a broader sector shift, marks a notable contrast to UniCredit's earlier unsolicited €10.1 billion bid for Banco BPM, which was withdrawn in July 2025.