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UniCredit stock surges as M&A talks with Banco BPM intensify
UniCredit's stock has surged 7.4%, reaching a market capitalization of EUR 83 billion, as the bank intensifies its focus on M&A, particularly targeting Banco BPM. Tensions are rising with Credit Agricole, a significant shareholder in BPM, as negotiations stall. UniCredit aims to diversify its fund offerings, reducing reliance on Amundi, with a capital increase planned for late March ahead of a potential takeover bid.
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