Unipol’s Move on Italy’s Popolare Sondrio Spurs M&A Speculations

Banca Popolare di Sondrio SpA jumped the most in nearly three years after its biggest investor requested a regulatory nod to raise its holding in the Italian lender, fueling speculation about a possible deal.

Unipol Gruppo, which owns 9.5% of Popolare di Sondrio through unit UnipolSai, said it started the authorization process to strengthen “its industrial and corporate partnership in the life and non-life bancassurance segment” and increase the stability of shareholding structure, according to a statement on Wednesday.

Insurance company UnipolSai boosted its stake in Popolare di Sondrio two years ago and its parent company currently owns 19.9% ...