CAPTAIN RAJU
In November 2024, UniCredit proposed to acquire Banco BPM, placing the bank's value at €10.1 billion. In June, the EC approved UniCredit's purchase of Banco BPM, giving the nod to the prospective agreement with several stipulations, including the divestiture of certain branches by the banks.
In the meantime, Italy has set several conditions for UniCredit to finalize the transaction according to local laws that empower the nation's authorities to interfere in investments in firms functioning in key sectors, such as banking (the ‘golden rule’).
Subsequently, UniCredit announced it was struggling to reach a conclusive decision regarding its proposal to acquire Banco BPM because of the requirements imposed by the Italian authorities.
According to UniCredit at that time, these consist mainly of limitations on how the merged financial entity will perform its lending operations and manage its liquidity. Moreover, limitations affect the bank's activities in Russia, along with the asset management of Anima, the firm that Banco BPM is acquiring.
source: reuters.com
In the meantime, Italy has set several conditions for UniCredit to finalize the transaction according to local laws that empower the nation's authorities to interfere in investments in firms functioning in key sectors, such as banking (the ‘golden rule’).
Subsequently, UniCredit announced it was struggling to reach a conclusive decision regarding its proposal to acquire Banco BPM because of the requirements imposed by the Italian authorities.
According to UniCredit at that time, these consist mainly of limitations on how the merged financial entity will perform its lending operations and manage its liquidity. Moreover, limitations affect the bank's activities in Russia, along with the asset management of Anima, the firm that Banco BPM is acquiring.
source: reuters.com
