Italy to set conditions on any Banco BPM-Credit Agricole deal [Yahoo! Finance Canada]
CREDIT AGRICOLE UNSP/ADR (CRARY)
NASDAQ:AMEX Investor Relations:
credit-agricole.com/en/finance/finance
Company Research
Source: Yahoo! Finance Canada
With MPS involved in implementing the takeover of Mediobanca, a deal with Credit Agricole Italia is seen as easier to pursue. Asked about political objections to a BPM deal with the French lender, Giorgetti told reporters that he would apply the legislation aimed at protecting key assets -- the so-called golden powers -- to such a merger should it materialise. "I have no political objections, I have a law that I must enforce as I have done in the recent past. As I have enforced it for others I will enforce it for them, there is a law and it applies to everyone," Giorgetti said on the sidelines of parliamentary work in the upper house, the Senate. Castagna travelled to Rome this week to discuss merger options for the Milan-based bank with leading government officials, people close to the matter said. Banco BPM owns 9% of MPS while Credit Agricole is the biggest investor in BPM, which is Italy's third-largest bank and plays an important role in financing small firms. Italy is
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