UniCredit’s Orcel Says Confident On Winning BPM Deal Backing (1)

UniCredit SpA Chief Executive Officer Andrea Orcel said he’s not holding any live talks with Credit Agricole SA to discuss his bid for Banco BPM SpA, while signaling confidence a deal can be done.

“We need to be quite careful with any interaction because we need to treat all shareholders the same,” Orcel said in a Bloomberg TV interview Wednesday with Francine Lacqua.

Credit Agricole is the largest shareholder in Banco BPM, and recently reinforced that position when it entered into derivatives contracts to control even more. At the same time, it has several commercial agreements with both ...