Georges Pauget, chief executive of Crédit Agricole, is reportedly set to meet his counterpart at Banca Intesa to discuss the terms on which it will back the Italian bank's merger with Sanpaolo IMI.
Italian daily newspaper La Repubblica reports that Pauges is meeting Intesa's Corrado Passera today along with investment banking advisers. Crédit Agricole is Intesa's largest shareholder, with a 17.8% stake.