Unipol, Italy's second-largest insurer, has clarified that it does not intend to exceed a 20% ownership stake in BPER following the potential merger of the Italian bank with Banca Popolare di Sondrio. Unipol's Chief Executive Matteo Laterza emphasized this stance during discussions with analysts after the release of Unipol's annual results.
In the event that Unipol's offer to acquire shares from Popolare di Sondrio stakeholders falls short of total acceptance, leading to Unipol possessing more than 20% of BPER, Laterza affirmed that they would promptly reduce their ownership. Crossing the 20% ownership threshold in a bank necessitates approval from the European Central Bank, a step that Laterza indicated as not being under consideration.
As a major shareholder in both banks, Unipol noted that the merger would grant BPER control with as little as 35% ownership in Popolare di Sondrio plus one share. Unipol has expressed support for BPER's bid for Popolare di Sondrio, highlighting that the integration will enhance their competitive positions in Italy's increasingly consolidated banking sector and strengthen the business relationships both banks have with Unipol.