Italy’s Banco BPM has no information about potential UniCredit bid – source

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FILE PHOTO: A woman walks in front of the Banca Popolare di Milano (BPM) bank in downtown Milan

MILAN – Italy’s Banco BPM has not received any information about a possible bid from bigger rival UniCredit, a source close to the bank said on Friday.

Shares in Banco BPM climbed on Friday after renewed speculation that larger Italian rival UniCredit CRDI.MI could launch a takeover bid for the lender.

(Reporting by Gianluca Semeraro; editing by Agnieszka Flak)