Gelonghui, December 18 | The Italian bank Banco BPM stated that following a larger scale acquisition offer made by its competitor Unicredit last month, it has requested the Italian securities market regulator Consob to take measures to protect Shareholders and the market. Banco BPM's CEO, Giuseppe Castagna, indicated that the Trade proposed by Unicredit did not acknowledge a premium beneficial to Banco BPM's Shareholders, which has been confirmed by market judgment, as the market has evaluated the Trade at a discount price from day one. Last month, Unicredit proposed an acquisition offer of over 10 billion dollars to Banco BPM, but the latter rejected the Quote, stating it undervalued the company's worth. In response to Unicredit, Crédit Agricole of France announced last week that it would increase its stake in Banco BPM to 15.1% to solidify its position as the largest Shareholder. Banco BPM also pointed out that Unicredit's acquisition could bring uncertainty and believes that Shareholders have the right to understand possible developments, risks, and associated costs, including the Trade with Commerzbank and the potential withdrawal of business from Russia.