Credit Agricole Gets ECB Nod to Raise BPM Stake as UniCredit Readies Bid Launch - WSJ
1. Credit Agricole increases BPM stake to 19.8% with ECB approval. 2. Consolidation trend in European banking intensifies, particularly in Italy. 3. UniCredit's $10 billion bid for BPM begins on April 28. 4. BPM rejects UniCredit's bid, claiming it undervalues the bank. 5. Major capital deals signal increased competition in the European banking sector.