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UniCredit bids €10.1bn to buy rival Banco BPM amid Commerzbank talks

The Italian lender wants to grow in scale and has offered to buy a local rival

Andrea Orcel’s UniCredit has offered €10.1bn for Banco BPM
Andrea Orcel’s UniCredit has offered €10.1bn for Banco BPM Photo: Hollie Adams/Getty Images

UniCredit has made an offer to acquire domestic rival Banco BPM in a €10.1bn all-stock deal that would create a major Italian bank with broader European reach.

The Italian lender unveiled the offer in a 25 November statement, which comes as UniCredit has been linked with a takeover of Commerzbank after it built a stake in the German bank.

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