Credit Agricole (CRARY) said it notified the Italian Authority and Banco BPM (BNCZF) (BNZCF) that it has entered into financial instruments relating to 5.2% of Banco BPM share capital, which can be physically settled subject to regulatory approvals. Considering the stake of 9.9% already held, the resulting aggregate position in Banco BPM notified by Credit Agricole amounts to 15.1%. Credit Agricole is going to apply for the supervisory authority’s authorization to increase its stake in Banco BPM’s share capital above 10% and up to 19.99%.
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