UniCredit's recent bid to acquire Banco BPM has raised concerns about its timing, according to Filippo Diodovich, Senior Market Strategist at IG Italia.
The move comes amidst a complex backdrop, including UniCredit's ongoing bid for Commerzbank and Banco BPM's acquisition of Anima Holding.
Diodovich suggests that the current offer may be low, indicating the potential for a higher bid to attract Banco BPM shareholders.
The merger between UniCredit and Banco BPM could result in synergies, as UniCredit aims to strengthen its presence in the Italian market by combining Banco BPM's local roots with its international expertise.
The outcome of UniCredit's dealings with Commerzbank is uncertain and will be influenced by the German political landscape and the future of the bank's management.