Banco BPM tops Italy's blue-chip index on M&A media speculations

Unicredit, SpA

21/09/2026 13:00

** Shares in Italy's Banco BPM BAMI.MI are up around 3.5% after media speculations over UniCredit CRDI.MI and Credit Agricole CAGR.PA reportedly assessing a joint move on the Italian lender
** The stock is the best performer on Italy's blue-chip index.FTMIB, which trades up 1.2%
** A Milan-based trader attributes the share move to an article published on Saturday by Italian financial daily Il Sole 24 Ore, which alleges - without further elaboration - that the two banks are attempting to start a dialogue over Banco BPM 
** Credit Agricole holds a near-30% stake in Banco BPM, which MPS BMPS.MI is trying to buy to fend off an offer from Italy's biggest lender Intesa Sanpaolo ISP.MI, and may hold a decisive role in the whole Italian banking M&A saga
** Daily Corriere della Sera also reports the ECB should approve UniCredit's offer for Commerzbank CBKG.DE in mid-October and finalise the deal, adding that afterwards UniCredit "could refocus its attention on Italy"
** Banco BPM, UniCredit and Crédit Agricole were all not immediately available for comment
** Shares in BPM gained almost 25% YTD, reaching a market cap of €23.8 billion  ($27.33 billion)



($1 = 0.8709 euros)

 (Reporting by Mirko Miorelli in Gdansk, Andrea Mandalà, Claudia Cristoferi and Valentina Za in Milan)
 ((Mirko.Miorelli@thomsonreuters.com))