UniCredit to Talk Amundi Accord When Meeting Credit Agricole

-- UniCredit SpA and Credit Agricole SA will discuss a crucial distribution agreement between the two companies when their top executives come together in the coming weeks to debate the Italian bank’s takeover bid for a domestic rival. The meeting, which the two sides are currently trying to schedule, will focus on UniCredit’s attempt to buy Banco BPM SpA, a lender in which Credit Agricole is the biggest shareholder, people familiar with the matter said. But UniCredit Chief Executive Officer Andrea Orcel and his French counterpart Philippe Brassac are also expected to touch on a potential extension of the sales arrangement for Credit Agricole’s asset management arm Amundi SA, the people said, asking not to be identified discussing private information. Credit Agricole, which bought Italian lender Cariparma in 2007 and later expanded in asset management, retail, corporate and investment banking in the country, has a complicated network of relationships with both Banco BPM and UniCredit. Credit Agricole’s asset management arm Amundi, on the other hand, relies on UniCredit as its key Italian distribution channel.