Italy to allow Unicredit to take over Banco BPM with conditions

(Bloomberg) – The Italian government will allow the takeover of Unicredit Spa for Banco BPM spa to move forward, provided some conditions are met. After an in -depth review, the Cabinet of Prime Minister Giorgia Meloni decided to “in defense of strategic interests and national security” to place some conditions on € 13 billion ($ 14.8 billion) conditions before continuing, the government said in a statement late Friday. No details on the conditions were provided. Unicredit, managed by Andrea Orcel executive, launched the unsolicited takeover late last year and centered Meloni’s plans for a third major banking conglomerate in the country on Banco BPM until unpleasant. However, Rome officials indicated that they had little space to block the transaction, despite having a tight political opposition, Bloomberg reported. Italy has concluded its special process that enables authorities to block or impose transactions involving strategic assets under the so -called “Golden Power” rules, after a review was started in January. Italy may request restrictions on Unicredit’s Russia business to keep BPM’s loan-to-deposit ratio stable, as well as maintain its project financing levels, Bloomberg reported earlier this week. Meloni’s government used its gold powerproof last year when it imposed restrictions on Tiremaker Pirelli & C. Spa’s largest investor, China’s Sinochem International Corp.. By contrast, Rome recently cleaned up with no conditions Banca Monte Dei Paschi di Siena Spa’s takeover on Mediobanca Spa and Banco BPM Spa’s acquisition of Anima Holding Spa. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP first published: 19 Apr 2025, 01:58 am Ist