Italy Defends Right to Restrict UniCredit's BPM Bid in EU Reply
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Italy has pushed back against European Union criticism of Rome's power to block or limit deals, which Prime Minister Giorgia Meloni recently used in UniCredit SpA 's now-failed attempt to acquire Banco BPM SpA.
The Italian government said in a letter to Brussels that the terms it had set for a deal to go ahead were in line with the EU law, people familiar with the matter said. Rome sent its response after a preliminary finding by the European Commission said Giorgia Meloni's government may have violated EU law.
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