UniCredit doubles stake in Greek bank Alpha nearing 20%
MILAN, May 28 (Reuters) - UniCredit (CRDI.MI), opens new tab on Wednesday said it had entered derivatives contract to roughly double its stake in Greece's Alpha Bank (ACBr.AT), opens new tab, bringing it close to 20%.
UniCredit said it would seek supervisory approval to cross the 10% threshold and reach a holding of up to 29.9%.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
42 minutes ago
- Reuters
Sanofi to buy US biopharma group Blueprint for up to $9.5 billion
PARIS, June 2 (Reuters) - France's Sanofi has agreed to buy U.S.-based Blueprint Medicines Corporation for up to $9.5 billion to boost its position in rare immunology diseases, in the biggest deal struck by a European healthcare company so far this year, according to LSEG data. Blueprint (BPMC.O), opens new tab is a specialist in treatments for systemic mastocytosis, a rare blood disorder. Sign up here. The two companies said on Monday that Sanofi ( opens new tab would initially pay $129.00 per share in cash, or around $9.1 billion. Blueprint shares jumped 27% to $128.74 in premarket trade. Sanofi stock was down about 1%. Sanofi has ramped up research and development spending in recent years, prompting the company to abandon its long-term profit margin targets two years ago, as it seeks to build on the success of its blockbuster drug Dupixent for eczema and other conditions. However, it suffered a setback last week after an experimental drug for patients with a lung condition commonly called "smoker's lung" failed a late-stage trial. The Blueprint acquisition "represents a strategic step forward in our rare and immunology portfolios. It enhances our pipeline and accelerates our transformation into the world's leading immunology company," said Sanofi CEO Paul Hudson. The deal would add to Sanofi's portfolio the rare immunology disease drug Ayvakit, also known as Ayvakyt, approved in the U.S. and the EU, and a promising advanced and early-stage immunology pipeline. Ayvakit is the only approved medicine for advanced and indolent systemic mastocytosis, a rare blood disorder that occurs when the body makes abnormal mast cells - a type of white blood cell. It triggers a continuous allergic response. The acquisition would also bring elenestinib, a next-generation medicine for systemic mastocytosis, as well as BLU-808, a highly selective and potent oral wild-type KIT inhibitor that has the potential to treat a broad range of diseases in immunology. The deal makes "strategic and financial sense", said JP Morgan analysts in a note, noting that Blueprint expects Ayvakit to reach annual sales of around $2 billion by fiscal year 2030. "We see the transaction as a good fit for Sanofi at a sensible valuation, which investors should see as a positive with time," they added. It is the latest in a series of deals by Sanofi. Last month, it announced the $470 million purchase of Vigil Neuroscience (VIGL.O), opens new tab and in January 2024 it struck a $2.2 billion deal for U.S biotech firm Inhibrx. Hudson said the deal complemented Sanofi's recent acquisitions of other early-stage medicines and added that it still retained a sizable capacity for further deals. The company has said it plans to invest at least $20 billion in the United States through 2030 to boost manufacturing and research, joining other drugmakers in responding to President Donald Trump's drive to boost local manufacturing. Besides $129.00 per share in cash, Blueprint shareholders would also receive one non-tradeable contingent value right (CVR) per share, which would entitle the holder to receive two potential milestone payments of $2 and $4 per CVR for the achievement, respectively, of future development and regulatory milestones for BLU-808. The total equity value of the transaction, including potential CVR payments, is $9.5 billion on a fully diluted basis. It is expected to close in the third quarter, pending regulatory and shareholder approvals.
BreakingNews.ie
an hour ago
- BreakingNews.ie
Soft-focus interview positions Bardella as leader-in-waiting of France's far-right
Jordan Bardella, the 29-year-old wunderkind of France's far right National Rally (RN), says he grew up wanting to be Superman, or James Bond. These days, he dreams of marrying a tall brunette with a strong personality. Mr Bardella was profiled on "An Intimate Ambition", a Sunday night primetime TV show short on tough political questions but long on the kind of personal vignettes that could broaden his appeal for 2027, when he could well be the RN's presidential candidate at the expense of his mentor, Marine Le Pen. Advertisement She and Bardella have forged one of France's most formidable political tag teams in recent years, fusing her experience with his youthful drive to transform the once-taboo RN into France's largest single parliamentary party. But the woman once widely seen as a front-runner for 2027 has seen her chances of contesting a fourth presidential election collapse after receiving a five-year political ban in March for party financing offences. Far-right rift? She has appealed and insists she remains the RN's 2027 candidate. But Mr Bardella, who spearheaded the RN's parliamentary election campaign last year, has been quick to say he will run if she cannot, and the French press has been awash with speculation about a rift. Stephane Rozes, head of the political consultancy Cap, said Ms Le Pen's ban had boosted the RN's free-market wing, who prefer Mr Bardella's pro-business views to her more statist, socially oriented policies. Advertisement "The uncertainties surrounding the candidacy have sharpened the differences in approach," Mr Rozes said. Audience data suggested over a million people watched Sunday's show, which presented a softer, more approachable version of Mr Bardella, featuring teary chats with his parents and workouts in the gym. Recent trips to the United States, Israel and Abu Dhabi appear designed to counter suggestions that Mr Bardella lacks foreign policy experience. Real or imagine, Le Pen-Bardella rivalry looms Several opinion polls taken since Ms Le Pen's conviction have put her neck-and-neck with Mr Bardella in a putative 2027 first-round vote, suggesting voters do not view her as irreplaceable. Advertisement Ms Le Pen has become increasingly prickly about Mr Bardella. Last week, during a visit to the restive French overseas territory of New Caledonia, she sneered: "I'm not sure Jordan knows New Caledonia's problems very well." "I assure you," Mr Bardella replied the same day, "I understand the overseas issues very well." RN officials dismiss talk of tensions. "The media are on the lookout for a statement from Marine or Jordan to support the story they're imagining," said RN lawmaker and spokesperson Laurent Jacobelli. "They support each other, and I don't think the rumours affect our leaders." There have been consistent rumours of a feud between Jordan Bardella and Marine Le Pen. Photo: AFP via Getty Images Louis Aliot, RN mayor of the southern city of Perpignan, said Ms Le Pen's focus on New Caledonia demonstrated how they complemented each other. Advertisement "Marine has been following the New Caledonia situation for almost 20 years," he said. "Jordan has never been there. That means he doesn't know it like she does." But while RN officials deny the idea of a rift in private too, they acknowledge Ms Le Pen may be unable to overturn her ban, and say Mr Bardella would be a formidable candidate. "Either can win," said a senior RN official, declining to be named. In "An Intimate Ambition", which was filmed before Ms Le Pen's conviction, Mr Bardella was coy about 2027, but less so about his competitiveness in sport. "I really like to win," he said. "I don't like to lose."
Telegraph
an hour ago
- Telegraph
Gloucestershire face mass exodus with nine players potentially heading for exit
Blast champions Gloucestershire are the non-Hundred host county most vulnerable to a raid on their playing squad from bigger clubs after English cricket's contracting window opened. From June 1 counties have been allowed to formally approach players in the last year of their contracts about a move next season. Gloucestershire reached June 1 with an unusually high number of players out of contract – nine. Among this group are Ajeet Singh Dale and Zaman Akhter, the exciting fast bowlers who played for England Lions this week, as well as promising all-rounder Tom Price, fast bowler Dom Goodman, and stalwart batsman Miles Hammond. The likes of Surrey and Lancashire are thought to be interested in Singh Dale and Akhter, while Price – who, like Goodman and Marchant de Lange, is currently injured – can expect a slew of suitors too. Gloucestershire have made contract offers to all the players, but they have chosen not to commit by June 1 in order to explore the market. It is highly unlikely that all nine will leave, and club officials are confident that a good number will sign extensions. In addition, Price's brother, the batting all-rounder Ollie, has another year remaining on his deal, but is thought to have a clause that could allow him to leave this year. It seems unlikely that he will, though. Under club legend Mark Alleyne, who joined as head coach ahead of the 2024 season, Gloucestershire have defied a tricky time to build an exciting squad. Last year, they won the T20 Blast for the first time, and they are in the hunt for promotion to Division One next season, sitting fourth in the table. Nevertheless, a chaotic couple of years off the field have resulted in players entering the final year of their contracts. In December 2023, Telegraph Sport revealed that Gloucestershire were considering selling their historic Nevil Road Ground – their home since the days of WG Grace in 1889 – to developers and moving to a site outside Bristol. This would allow the club to bank up to £40 million for the city centre site, then diversify their business at an out-of-town venue in the manner that Hampshire have with the Utilita Bowl, which as well as two cricket ovals has hotels, a golf course and conferencing and events facilities. While the move is not imminent, Gloucestershire announced in April this year that they had signed a non-binding heads of terms agreement for a site at Swanmoor Stoke, which is situated between Severn Beach and Patchway in the north-west outskirts of Bristol. Such a move would help alleviate financial concerns at the club. In the last three sets of annual accounts, Gloucestershire's losses are £570,000 (2022), £1.2 million (2023), and £414,000 (2024). After losing Beau Webster and Zafar Gohar to other counties this winter, Gloucestershire signed Cameron Green. That represented a real coup, but the deal was funded by a generous member. There was major administrative churn in 2024, too. Chairman David Jones was removed by the members at the 2024 AGM, and long-standing chief executive Will Brown stepped down a few months later. At a similar time, the local business Arron Banks – one of the 'bad boys of Brexit' – launched a bid to take control of the club, which fizzled out. Eventually Neil Priscott was promoted to replace Brown, while Peter Matthews stepped in as chair and the pair appear to be bringing some welcome stability. It is increasingly common for players to move from so-called smaller counties to wealthier Test grounds. That trend could be accelerated in the coming years, with host venues taking control of their Hundred teams, potentially widening the gap between the haves and have-nots. Each non-host county is in line to receive a one-off payment in excess of £25 million when the Hundred deal is completed. However, there are guardrails from the England and Wales Cricket Board in place for how that money is used, such as paying down debt and improving infrastructure – Gloucestershire's new ground could be an example of the latter. It is not designed to pay players more. The perceived attractions of bigger counties are not only that they are able to pay players more, but also provide better facilities for training, while deeper squads mean their workloads can be managed better. Gloucestershire are not alone in being vulnerable to a raid. Kent have three key young players out of contract: batsman Tawanda Muyeye, all-rounder Joey Evison and fast bowler Nathan Gilchrist. It is thought that around half the counties could be interested in signing Muyeye, who was born in Zimbabwe but will qualify for England in the next couple of years. Essex made a statement by securing Sam Cook's signature, and it is thought that all-rounder Paul Walter, who has done well opening the batting in the County Championship this year, is close to following. Of their key players, Michael Pepper remains out of contract. A pair of loaned-out all-rounders could leave Somerset, too. Ben Green has spent the Championship campaign on loan at Leicestershire, and could leave Taunton in search of more red-ball opportunities. England Lions all-rounder Kasey Aldridge has gone on loan to Durham for the Blast, which would appear to make them favourites to sign him if he left Somerset. Somerset also have bowlers Jake Ball and Josh Davey out of contract, while it seems inevitable that the England off-spinner Shoaib Bashir will leave the club, where he sits behind Jack Leach. With England, that pecking order is inverted.
