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UBS has introduced a Certificate Fast on Italy, offering a 13% annual return linked to a basket of three Italian stocks: Saipem, Banco BPM, and Moncler. The certificate features a 50% principal protection, conditional monthly premiums, and an autocall mechanism for early redemption, with a maturity date set for January 22, 2030. Key performance metrics include a barrier system that allows for fluctuations without capital loss, provided the underlying stocks meet specific conditions at maturity.
Credit Agricole has increased its stake in Banco BPM to 5.2% through derivative contracts with Deutsche Bank, aiming for a 19.99% share pending ECB approval. This move underscores Credit Agricole's commitment to the Italian market amid potential consolidation, as Banco BPM considers acquiring Anima Holding to strengthen its position against UniCredit.
Credit Agricole has acquired a 5.2% stake in Banco BPM through Deutsche Bank, increasing its total stake to 15.1%. The French bank is seeking ECB approval to raise its holding to 19.99%. Meanwhile, Banco BPM is countering acquisition interest from UniCredit by pursuing Anima Holding.
Deutsche Bank holds a 5.2% stake in Banco BPM on behalf of Credit Agricole. As Italy's third-largest banking group, Banco BPM S.p.A. operates across six areas, including private and investment banking, insurance, and asset management, with a network of 1,437 branches. By the end of 2023, it reported EUR 102.5 billion in current deposits and EUR 129.3 billion in current loans.
Deutsche Bank has acquired a 5.2 percent stake in Banco BPM for over EUR 700 million, potentially signaling a competitive move against UniCredit's takeover bid for Anima Holding SGR. This stake, held on behalf of third-party clients, may align with Crédit Agricole's interests, which seeks to increase its shareholding. A high shareholder turnout is anticipated, with key support from BlackRock and JPMorgan, as decisions on lowering the minimum capital threshold for the takeover bid are set to be made.
Securities analysts have revised ratings and price targets for several European companies. Notable changes include JP Morgan raising Lloyds' target price to 62p and upgrading Societe Generale to overweight, while Citigroup increased Verbund's target to EUR 64. Other adjustments include Stifel raising Vusiongroup's target to EUR 215 and UBS cutting KGaA's target to EUR 28.2.
UniCredit has threatened to withdraw its €10bn bid for Banco BPM if shareholders vote to increase the offer for asset manager Anima. The Milanese lender emphasized that any changes to the Anima offer would impact its own proposal, while BPM's leadership criticized UniCredit's tactics as dangerous and hostile. Tensions rise amid ongoing consolidation efforts in Italy's banking sector, with BPM asserting its commitment to a standalone strategy.
UniCredit has warned it may withdraw its buyout offer for Banco BPM if shareholders approve a more expensive bid for Anima Holding. Banco BPM's proposal, which requires shareholder approval on February 28, aims to align the bid's price with the market, but faces uncertainty regarding the European Central Bank's capital rules. If the price increase is approved, major Anima investors are likely to sell their stakes to Banco BPM.
Banco BPM's CEO, Giuseppe Castagna, expressed confidence in the bank's strategy and capital position amid UniCredit's bid threats. He emphasized the importance of acquiring Anima to enhance profitability and dismissed UniCredit's tactics as attempts to manipulate shareholder sentiment. Castagna reassured investors of sufficient capital to support the bank's growth plans, countering allegations of financial instability.
UniCredit has warned it may terminate its bid for Banco BPM if the latter increases its offer for Anima, which Banco BPM's leadership describes as a dangerous tactic aimed at influencing shareholder votes. They assert their strong capital position and commitment to completing their acquisition strategy, emphasizing that they will respond legally to UniCredit's allegations.
Banco BPM S.p.A.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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