Banco BPM weighs Credit Agricole deal after MPS plan fails

Banco BPM CEO Giuseppe Castagna said a deal with Credit Agricole could be among the options the Italian bank considers after shareholders rejected a plan centered on acquiring Monte dei Paschi di Siena (MPS). Any transaction would need shareholder backing, he told analysts on a call about third-quarter results.

Today, 08:26· Money Talk· 86 reads

Banco BPM weighs Credit Agricole deal after MPS plan fails

Castagna said Banco BPM was examining all potential opportunities. Asked about a possible transaction with Credit Agricole, he said the bank would evaluate that option.

Credit Agricole is Banco BPM’s largest shareholder, with a 29.6% stake, and is also a long-standing commercial partner. It has repeatedly expressed support for combining Banco BPM with its Italian subsidiary, Credit Agricole Italia.

Banco BPM weighs Credit Agricole deal after MPS plan fails

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