巴黎/罗马，11月9日电 据两名知情人士透露，法国农业信贷银行已向意大利政府提供担保，涉及客户储蓄投资意大利国债的部分，以寻求罗马方面对其意大利子公司与意大利BPM银行拟议合并的支持。
PARIS/ROME, Nov 9 - France's Credit Agricole has offered the Italian government guarantees over customer savings invested in Italian government bonds as it seeks Rome's backing for a proposed merger between its Italian unit and Banco BPM, two sources familiar with the matter said.
该担保旨在规避意大利所谓的“黄金权力”规则，该规则允许罗马阻止或对被视为具有战略重要性的交易设定条件。
The guarantees are designed to head off Italy's so-called "golden power" rules, which allow Rome to block or set conditions on transactions deemed strategically important.
农业信贷银行——控制着欧洲最大基金管理公司安联投资——已宣布就BPM银行与农业信贷意大利银行的合并进行磋商。
Credit Agricole — which controls Amundi, Europe's biggest fund manager — has announced talks on a merger between Banco BPM and Credit Agricole Italia.
罗马方面的一个关键担忧是安尼玛资产管理公司，该公司由BPM银行控制，是意大利主权债务的重要持有者。
A key concern for Rome is Anima, the asset manager controlled by Banco BPM, which is a significant holder of Italian sovereign debt.
鉴于每年需要再融资巨额公共债务，意大利视对管理该国巨额私人储蓄公司的国内控制权为战略要务。
With a massive public debt to refinance every year, Italy sees domestic control of companies managing the country's high amount of private savings as strategically important.
知情人士之一称，农业信贷银行已告知政府，与BPM银行的任何交易都将旨在确保在意大利收集的储蓄配置保持在国内手中。路透社无法确定农业信贷银行向意大利政府作出了哪些具体承诺。
Credit Agricole has told the government any deal with BPM would be designed to ensure the allocation of savings collected in Italy remained in domestic hands, one of the sources said. Reuters could not establish what specific commitments Credit Agricole had made to the Italian government.
资产管理将成谈判主题，农业信贷银行表示 农业信贷银行发言人称，目前就资产管理问题发表更多评论为时过早，这自然将成为双方谈判的主题。
ASSET MANAGEMENT WILL BE SUBJECT OF TALKS, CREDIT AG SAYS A spokesperson for Credit Agricole said it was too early to say any more on asset management, which would naturally be the subject of talks between the parties.
该发言人补充道：“目前，这是向BPM银行提出的友好建议，旨在整合零售银行和保险业务。”BPM银行拒绝置评。
"At this stage, this is a friendly proposal made to Banco BPM with a view to bringing together the retail banking and insurance businesses," the spokesperson added.
这些担忧呼应了去年忠利保险与法国BPCE集团合并计划的失败。两大集团放弃了合并其资产管理业务的计划，称缺乏使交易可行所需的条件。
Banco BPM declined to comment. The concerns echo last year's failed tie-up between Generali and BPCE. The two groups dropped plans to merge their asset management businesses, saying the conditions required to make the deal viable were absent.
交易在意大利政府对该国储蓄以及忠意保险作为意大利主权债务主要持有者的地位表示担忧后告吹。
The deal collapsed after the Italian government expressed concerns over the country's savings and Generali's position as a major holder of Italian sovereign debt.
在2011年至2012年的欧元区危机期间，国内银行的支持是确保意大利债务再融资的关键，而此次银行并购正发生在主权债券市场压力不断加大的背景下，法国成为投资者关注的焦点。
Support from domestic banks was key to securing Italian debt refinancing during the euro zone crisis in 2011-2012, and the banking M&A is unfolding against the background of mounting stress in sovereign bond markets, with France a focus of investor concerns.