The Board of Directors of Crédit Agricole S.A. has approved to file an authorization request with the European Central Bank to cross 20 percent in the share capital of Banco BPM S.p.A. (the Bank of Italy may be consulted).
With this authorization, Crédit Agricole S.A., who currently holds 19.8 percent in the share capital of Banco BPM, intends to buy a sufficient number of shares to position its stake in Banco BPM just above the 20 percent threshold, in order to qualify it within the framework of “significant influence” and to account it pursuant to the equity method, consistently with Crédit Agricole S.A.’s position as long term shareholder and industrial partner of Banco BPM.
La Banque Verte does not intend to acquire or exercise control on Banco BPM and will maintain its stake below the mandatory tender offer threshold. (Redazione)
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