ROME (Reuters) – A group of Banco BPM investors, holding 6.51% of the lender, said on Tuesday they backed a plan which envisages a standalone growth of the bank, a statement said, indirectly expressing its opposition to a bid launched by UniCredit.
Italy’s second-largest bank in late November swooped on BPM, which has long been a natural takeover target for the bigger bank given its roots in Italy’s wealthy Lombardy region.
The group of shareholders, including Italian doctor’s pension fund ENPAM and banking foundation Fondazione Cassa di Risparmio di Lucca, said they were satisfied with the “important dividends” that had been distributed by the bank and that they saw further scope for growth for Banco BPM given its diversified strategy.
(Reporting by Andrea Mandalà, writing by Giulia Segreti, editing by Claudia Cristoferi)
