Italian bank BPER said Friday that it has made a 4.3-billion-euro takeover bid for fellow lender Banco Popolare di Sondrio.
    Popolare di Sondrio sources said that the move had not been agreed on with them before being announced.
    BPER CEO Franco Papa confirmed this in a conference call with analysts, while stressing that "we do not consider this offer to be hostile".
    BPER said that the aims of the bid were "to accelerate growth and maximise the value creation for all stakeholders through the aggregation of two banks which can be executed rapidly and effectively thanks to similar business models and shared values".
    It said it expected to complete the takeover in the second half of 2025.
    It is the latest in a series of unsolicited takeover bids launched in the Italian banking sector, with UniCredit setting its sights on Banco BPM and Monte dei Paschi seeking to get control of Mediobanca.

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