Finance
UniCredit Weighs Alternative to Agricole Pact Amid BPM Spat
The tussle for Banco BPM is at the center of a wave of potential M&A deals in Italian banking.
Photographer: Francesca Volpi/BloombergUniCredit SpA is assessing alternatives to a sales agreement with Credit Agricole SA’s fund unit, underlining a growing rift over the Italian lender’s takeover bid for smaller domestic rival Banco BPM SpA.
Italy’s second-largest bank is analyzing options to replace Credit Agricole’s asset manager Amundi SA when an existing sales partnership with the firm expires in about two years’ time, people with knowledge of the matter said. They asked not to be identified discussing the private matter.