Italian bank BPER said Friday that it
has made a 4.3-billion-euro takeover bid for fellow lender Banco
Popolare di Sondrio.
Popolare di Sondrio sources said that the move had not been
agreed on with them before being announced.
BPER CEO Franco Papa confirmed this in a conference call with
analysts, while stressing that "we do not consider this offer to
be hostile".
BPER said that the aims of the bid were "to accelerate growth
and maximise the
value creation for all stakeholders through the aggregation of
two banks which can be executed rapidly and effectively thanks
to similar business models and shared values".
It said it expected to complete the takeover in the second half
of 2025.
It is the latest in a series of unsolicited takeover bids
launched in the Italian banking sector, with UniCredit setting
its sights on Banco BPM and Monte dei Paschi seeking to get
control of Mediobanca.
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