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UniCredit offers to buy rival Italian lender Banco BPM for $10.5 billion

A logo on the UniCredit SpA headquarters in Milan, Italy, on Saturday Jan. 22, 2022.

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Italian lender UniCredit on Monday offered to snap up its domestic rival Banco BMP for roughly 10 billion euros ($10.5 billion) in a move it says is separate from its pursuit of German bank Commerzbank.

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