Credit Agricole ups Banco BPM stake amid UniCredit bid

(ANSA) - ROME, DEC 7 - France's second-biggest bank Credit Agricole has upped its stake in Banco BPM by 5.2% to 15. 1% and plans to raise it to 19.99% after an all-share hostile takeover bid for Italy's third-biggest bank by the second-biggest, UniCredit.
    The 'banque verte', second in France to BNP Paribas, does not plan to stage a takeover for Banco BPM, it said.
    Banco BPM has rejected the bid by UniCredit, second in Italy to Intesa Sanpaolo, saying it does not recognise its potential.
    Credit Agricole, Banco BPM and UniCredit have already got other cross shareholdings. (ANSA).