UniCredit is in talks to merge its Pioneer Global Asset Management unit with Intesa Sanpaolo’s Eurizon Capital, Bloomberg reports. The new combined entity formed will manage less than 30% of the market.
The Italian bank is also in talks with Paris-based Natixis and Amundi, a joint venture of France’s Credit Agricole and Societe Generale regarding the merger. The Milan-based company initiated the talks with the backing of government officials.
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