French asset manager Amundi SA offered €4 billion to acquire 's , Reutersreported Oct. 6, citing "two sources close to the matter."
Amundi, Australia-based Macquarie Group Ltd., U.K.-based and aconsortium led by Poste ItalianeSpA are reportedly competing for the UniCredit unit and reportedly reachedthe second phase ofbidding Oct. 4.
Amundi's higher-than-expected offer has pushed PosteItaliane to search for a financial partner in order to up its own bid for theasset management company, according to one of the sources. Amundi and PosteItaliane are reportedly front-runners in the bidding.
Amundi declined to comment, and UniCredit, which said itwould wait untilafter the Dec. 4 referendum on Italian Prime Minister Matteo Renzi's proposedconstitutional reforms to pick a buyer, was also unavailable for comment,according to Reuters.