Italian lender UniCredit says its offer for domestic rival Banco BPM is separate from its pursuit of German bank Commerzbank.
UniCredit on Monday offered to snap up its domestic rival Banco BPM for roughly 10 billion euros .It follows a flurry of banking M&A news in Europe. In September, UniCredit increased its stake in Commerzbank to around 21% and submitted a request to boost the holding to up to 29.9%.for roughly 10 billion euros in a move it says is separate from its pursuit of German bank
UniCredit said the purchase, which would be an all-stock deal, would allow the bank to "further strengthen its role as a leading pan-European banking group."
Commerzbank AG Commerzbank AG Unicredit Spa Unicredit Spa Banco BPM Spa Business News
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