UniCredit to acquire Banco BPM for €10.1bn.

UniCredit, an Italian multinational banking group, offered to acquire Banco BPM, an Italian bank, for €10.1bn. "With this acquisition of one of our historical targets, we reinforce our position in Italy while further enhancing the value we can create for all our stakeholders in that market as well as our shareholders. Europe needs stronger, bigger banks to help it develop its economy and help it compete against the other major economic blocs. Thanks to the work that has been done over the past three years, UniCredit is now well positioned to also answer that challenge," Andrea Orcel, UniCredit CEO.