Crédit Agricole Proposes Tie-Up With Its Italian Unit
After Italy stymied UniCredit’s attempt to buy €20 billion BPM, Crédit Agricole proposed a tie-up with its local unit. The French bank is offering a premium and would own less than 50%.
By Neil UnmackRome stymied UniCredit’s attempt to buy €20 bln BPM, only for Crédit Agricole to now propose a tie-up with its local unit. The French bank is offering a premium, and will own less than 50%. That might help Italy get over a Gallic takeover, but it also adds to the buyer’s risks.Full vi…