Amundi Stands to Benefit From M&A Developments in Italy -- Market Talk

Dow Jones

Dec 11, 2024

1023 GMT - French asset manager Amundi is in a position to negotiate favorable outcomes for its partnership with UniCredit in Italy, Deutsche Bank says. Amundi parent Credit Agricole moved to raise its stake in Banco BPM, for which UniCredit launched a takeover bid last month. "While Italy represents only 9% of Amundi's group [assets under management], the partnership with UniCredit is more profitable and represents close to 20% of its net income, in our view, given the proportion of higher retail margin products," analysts Sharath Kumar and Giovanni Razzoli write. Any changes in this distribution agreement--which is due for renewal in 2027--has large implications for Amundi's investment case, they note. Credit Agricole is now in a good position to push for the renewal, giving Amundi a favorable risk reward. Amundi share slip 0.8% and are up 5.3% year to date. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

December 11, 2024 05:23 ET (10:23 GMT)

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Amundi parent Credit Agricole moved to raise its stake in Banco BPM, for which UniCredit launched a takeover bid last month. \"While Italy represents only 9% of Amundi's group [assets under management], the partnership with UniCredit is more profitable and represents close to 20% of its net income, in our view, given the proportion of higher retail margin products,\" analysts Sharath Kumar and Giovanni Razzoli write. Any changes in this distribution agreement--which is due for renewal in 2027--has large implications for Amundi's investment case, they note. Credit Agricole is now in a good position to push for the renewal, giving Amundi a favorable risk reward. Amundi share slip 0.8% and are up 5.3% year to date. (elena.vardon@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 11, 2024 05:23 ET (10:23 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amundi Stands to Benefit From M&A Developments in Italy -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmundi Stands to Benefit From M&A Developments in Italy -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-12-11 18:23</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1023 GMT - French asset manager Amundi is in a position to negotiate favorable outcomes for its partnership with UniCredit in Italy, Deutsche Bank says. Amundi parent Credit Agricole moved to raise its stake in Banco BPM, for which UniCredit launched a takeover bid last month. \"While Italy represents only 9% of Amundi's group [assets under management], the partnership with UniCredit is more profitable and represents close to 20% of its net income, in our view, given the proportion of higher retail margin products,\" analysts Sharath Kumar and Giovanni Razzoli write. Any changes in this distribution agreement--which is due for renewal in 2027--has large implications for Amundi's investment case, they note. Credit Agricole is now in a good position to push for the renewal, giving Amundi a favorable risk reward. Amundi share slip 0.8% and are up 5.3% year to date. (elena.vardon@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 11, 2024 05:23 ET (10:23 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4207","symbol_name":"综合性银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2490834399","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2490834399","pubTimestamp":1733912580,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1023 GMT - French asset manager Amundi is in a position to negotiate favorable outcomes for its partnership with UniCredit in Italy, Deutsche Bank says. Amundi parent Credit Agricole moved to raise its stake in Banco BPM, for which UniCredit launched a takeover bid last month. \"While Italy represents only 9% of Amundi's group [assets under management], the partnership with UniCredit is more profitable and represents close to 20% of its net income, in our view, given the proportion of higher retail margin products,\" analysts Sharath Kumar and Giovanni Razzoli write. Any changes in this distribution agreement--which is due for renewal in 2027--has large implications for Amundi's investment case, they note. Credit Agricole is now in a good position to push for the renewal, giving Amundi a favorable risk reward. Amundi share slip 0.8% and are up 5.3% year to date. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4207":"综合性银行","CRARY":"Credit Agricole SA"},"translate_title":"东方汇理银行将从意大利的并购发展中受益——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CRARY":0.9},"content_text":"1023 GMT - French asset manager Amundi is in a position to negotiate favorable outcomes for its partnership with UniCredit in Italy, Deutsche Bank says. Amundi parent Credit Agricole moved to raise its stake in Banco BPM, for which UniCredit launched a takeover bid last month. \"While Italy represents only 9% of Amundi's group [assets under management], the partnership with UniCredit is more profitable and represents close to 20% of its net income, in our view, given the proportion of higher retail margin products,\" analysts Sharath Kumar and Giovanni Razzoli write. Any changes in this distribution agreement--which is due for renewal in 2027--has large implications for Amundi's investment case, they note. Credit Agricole is now in a good position to push for the renewal, giving Amundi a favorable risk reward. Amundi share slip 0.8% and are up 5.3% year to date. (elena.vardon@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 11, 2024 05:23 ET (10:23 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}