The Board of Directors of Crédit Agricole S.A. has approved to file an authorization request with the ECB to cross 20% in the share capital of Italian Banco BPM S.p.A.

With this authorization, Crédit Agricole S.A., who currently holds 19.8% in the share capital of Banco BPM, intends to buy a sufficient number of shares to position its stake in Banco BPM just above the 20% threshold, in order to qualify it within the framework of “significant influence” and to account it pursuant to the equity method, consistently with Crédit Agricole S.A.’s position as long term shareholder and industrial partner of Banco BPM.

"Crédit Agricole S.A. - as reported in a press release - does not intend to acquire or exercise control on Banco BPM and will maintain its stake below the mandatory tender offer threshold". 

We recall that Banco BPM is under attack from Unicredit bank, which launched a takeover bid in November 2024.