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Crédit Agricole: takeover bid on Credito Valtellinese

( - The board of directors of Italy's Credito Valtellinese (Creval) has announced that its management met yesterday to review the takeover bid for all of Creval's ordinary shares by Crédit Agricole.

This offer, launched by Crédit Agricole Italia, is both unexpected and unsollicited, its management said.

Credito Valtellinese has said that, in agreement with the chairman, it will be consulting financial and legal advisers to assist the board regarding this offer.

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