Crédit Agricole eyes larger stake in Italy's Banco Bpm amid MPS takeover talks

Crédit Agricole, currently holding a 22.9% share of Banco Bpm, is evaluating an increase to the 29.9% ceiling authorised by the European Central Bank. Raising its stake would deepen the French group's influence in the Milan‑based lender without taking outright control.

The move comes as Intesa Sanpaolo has launched a public‑exchange offer for Monte dei Paschi di Siena, reshaping the landscape of Italian banking consolidation. Sources say Crédit Agricole remains cautious and is not positioning itself as a “white knight” for Monte dei Paschi, weakening the prospect of a Credit‑Bpm tandem counter‑offer ahead of the upcoming Monte dei Paschi board meeting.