Latest news with #BAMI
Reuters
30-05-2025
- Business
- Reuters
Italy reaffirms legitimacy of 'golden power' terms for UniCredit-Banco BPM deal
ROME, May 30 (Reuters) - Italy's Treasury said on Friday it sent a letter to UniCredit ( opens new tab confirming the "full legitimacy" and feasibility of the terms it has imposed on the bank's bid for Banco BPM ( opens new tab under its so-called golden powers. In the letter, it said that UniCredit has the possibility of offering proof of why it would not be able to implement the conditions, "in light of the principles of loyal collaboration and good faith".
Reuters
23-05-2025
- Business
- Reuters
UniCredit says it will appeal against Italy's conditions on Banco BPM bid
MILAN, May 23 (Reuters) - Italian bank UniCredit ( opens new tab said on Friday it would fight the conditions imposed by the government to clear its offer for rival Banco BPM ( opens new tab by filing an appeal to the administrative court of Rome's Lazio region. UniCredit said in a statement it would file the legal complaint "shortly". UniCredit also said it would support the European Commission's review of the use Italy has made of its "golden powers" to set demands for UniCredit's bid on the grounds of national security interests. The bank said it was waiving a provision in its offer that allowed it to walk away after Banco BPM completed the acquisition of fund manager Anima Holding ( opens new tab at a higher price than anticipated. BPM had bid for Anima just before UniCredit swooped, and it managed to secure shareholder approval and see the purchase through despite having become a takeover target. UniCredit retains rights in its bid that would still allow it to drop the offer, saying it was not in a position to decide whether its purchase could be finalised given the government's conditions.
Reuters
21-05-2025
- Business
- Reuters
Italy's market regulator grants UniCredit 30-day suspension of offer for Banco BPM
MILAN, May 21 (Reuters) - Italy's market regulator Consob on Wednesday said it had granted UniCredit ( opens new tab a 30-day suspension of its tender offer for Banco BPM ( opens new tab.
Reuters
07-05-2025
- Business
- Reuters
Bid target Banco BPM raises 2025 guidance after strong first quarter
MILAN, May 7 (Reuters) - Banco BPM ( opens new tab raised its 2025 guidance after a bigger-than-expected 38% rise in first quarter net profit thanks to rising fee and trading income which offset a decline in the net interest margin, it said on Wednesday. The bank, the target of a 13.8 billion euro all-share offer from UniCredit ( opens new tab, reported a net profit of 510.7 million euros ($580.5 million) in the January-March period, up from 370 million a year earlier. That compared with an analyst consensus forecast compiled by Reuters of 445 million euros. Net interest margin declined by 5.5% year-on-year in the first three months as the gap between lending and deposit rates shrinks. Banco BPM said it now expected a net profit of 1.95 billion euros in 2025 from previous target of 1.7 billion euros. ($1 = 0.8798 euros)
