Crédit Agricole said it was cleared by the European Central Bank to raise its stake in BPM, as bigger rival UniCredit prepares to start its offer for the Italian lender this month.

https://images.wsj.net/im-62802088?size=1.5

The French bank said that the ECB on Tuesday authorized Credit Agricole to cross the 10% threshold in the Italian bank’s share capital and to hold up to a 19.9% stake in Banco BPM.

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Credit Agricole said it received authorization from the European Central Bank to increase its stake in Italy’s 

Banco BPM

UniCredit

 prepares to start its offer later this month.

BPM has landed on the front line of a dealmaking spree to consolidate European lending, which has been particularly vigorous in Italy’s crowded banking sector.

Credit Agricole Gets ECB Nod to Raise BPM Stake as UniCredit Readies Bid Launch

Credit Agricole Gets ECB Approval to Increase Banco BPM Stake

BPM has landed on the front line of a dealmaking spree to consolidate European lending, which has been particularly vigorous in Italy’s crowded banking sector

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Finance

Meet three of FN’s Rising Stars of European Finance

Wanted: Top lawyers for FN’s legal list

Sidley hires senior Latham London capital markets partner

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Latham’s London corporate co-chair follows ex-colleagues to Sidley

Willkie Farr hires Gibson Dunn antitrust team in Germany expansion

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Willkie grows in Germany with former Latham & Watkins team

Allspring names new CEO as Joe Sullivan takes exec chair role

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Kate Burke, who moves into the top job in July, has worked at Allspring since 2023

European Commission President Ursula von der Leyen said it is not too late to engage in talks with the U.S.

EU’s Von Der Leyen Vows Response to Trump’s 20% Tariffs

More than $6 billion from heists highlights the sophistication of cyber operations funneling cash to Kim Jong Un’s nuclear program.

By Patricia Kowsmann in Singapore and Timothy W. Martin in Seoul 

How Hackers Stole Billions in Crypto to Keep North Korea’s Regime Afloat

Accenture, Deloitte, IBM and other firms submitted proposed price concessions but are expected to be asked to dig deeper.

Consulting Giants Offer Billions in Cuts to Federal Contracts. It Might Not Be Enough.

The law firm where Doug Emhoff, former Vice President Kamala Harris’s husband, is a partner, agreed to similar concessions as Skadden and Paul Weiss.

Willkie Farr Becomes the Latest Big Law Firm to Strike Deal With Trump

Thursday’s vote in London at Rio Tinto’s annual shareholder meeting will test support for a change that has been championed by activist investor Palliser Capital.

Rio Tinto Braces for Investor Vote on Review of London Listing

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