MILAN, Nov 25 Reuters UniCredit Chief Executive Andrea Orcel said on Monday relations with Amundi, Europe39;s biggest asset manager, were solid after the group launched a buyout bid for smaller peer Banco BPM.

UniCredit is the biggest partner of Amundi in Italy. The Banco BPM bid can lead UniCredit to owning fund manager Anima.

The Amundi contract runs through 2027 and UniCredit has said it may not renew it.

Amundi is owned by Credit Agricole, which is also the biggest shareholder in Banco BPM. Amundi has invested in Anima on behalf of its clients.

Speaking to analysts and investors after announcing the Banco BPM offer, Orcel said UniCredit would keep an asset management offer for clients that includes the products of 39;bestinclass players39; such as Amundi as well as local fund managers like Anima.

Asked about Credit Agricole, he said he thought solutions of mutual interests could be worked out with Banco BPM 39;industrial39; shareholders.

Reporting by Valentina Za, editing by Gavin Jones

Source Reuters