Rumors are growing that Credit Agricole Italia, the Italian subsidiary of the French bank, is moving decisively toward Banco BPM, in which the French bank currently holds a 20% stake. According to rumors reiterated by Milano Finanza, the deal could accelerate in the coming months: the goal is to create a new banking hub with significant influence on the domestic market. According to further rumors, Crédit Agricole has selected Deutsche Bank and Rothschild as advisors for the ongoing negotiations with Banco BPM.

A clear sign of openness came in recent days when the CEO of Banco BPM, Giuseppe Castagna , in an interview defined "Credit Agricole as the clearest opportunity we have. It is certainly a concrete opportunity also because Crédit Agricole became the bank's main shareholder during the Unicredit takeover bid, going from 9.9% to over 20%".

On the political front, the uncertainty surrounding the exercise of the golden power remains intact: the government has demonstrated its strategic focus on controlling large commercial banks and may carefully evaluate the operation, especially given its potential repercussions on corporate lending and industrial relations.

The transaction between Italy's third-largest group and the "banque verte" would create a player of European scale: Banco BPM currently has a market capitalization of approximately 20 billion euros, and experts believe a merger with the French bank would also have defensive benefits, consolidating its shareholder base and reducing the risk of future hostile takeovers by Italian and foreign competitors.

On the other hand, the operation would consolidate Crédit Agricole's role in Italy where, over the last twenty years, the bank has built a network of over 1,200 branches thanks to the acquisitions of Cariparma, FriulAdria, Creval and numerous local savings banks, becoming one of the country's leading retail operators.