With accelerated mergers and acquisitions in Europe, Italy opens the way with a dynamic financial sector, with seven active agreements.
The hostile offer of Unicredit for Banco BPM is the most spoken, worth $ 16.35 billion, nearly a billion dollars below BPM market value. The offer followed the unsuccessful negotiations of Unicredit with the Italian government to resume Banca Monte Dei Paschi Di Siena three years ago. Unicredit launched the new call for tenders on BPM despite the restrictions imposed by the government. The situation is currently stuck after the Italian market regulator temporarily suspended the period of the offer.
For its part, Banco BPM recently acquired animal active manager for more than $ 2 billion.
“When the wave of consolidation increases, there is almost always a domino effect, the banks trying to defend their competitive position. In Italy, it was triggered by the merger of intests with UBI in 2020, which widened the market for market share with smaller players. Creditsights, a company FITCHSOLUTIONS.
In a highly competitive context, many other Italian banks have recently made the headlines.
Earlier this year, Monte Dei Paschi, the oldest bank in Italy, took the country by surprise when she offered a fusion offer of $ 14 billion for the private investment bank MediBanca.
Meanwhile, Mediobanca announced a voluntary public exchange offer for 100% of Banca Generali, an agreement worth $ 7.1 billion, to create an Italian leader in wealth management.
In January, Banca Generali completed its acquisition of buying all intermonth broker for $ 112 million.
Another important case is the exchange of $ 5 billion from Bert Banca to its competitor Banca Popolare Di Sondrio. The European Central Bank recently authorized the offer.
Finally, a few weeks ago, Banca Ifis launched an offer of cash and sharing of $ 340 million for unlimited, the high -tech bank founded by the former CEO of the intesta, Corrado will pass.
With so much booming transactions, the consolidation process in Italy is considered good news and, ultimately, “positive for banking customers and investors, because efficiency, profitability and quality of service are ready to improve,” concludes Biraschi.