Latest news with #BancoBPMSpA
Bloomberg
23-05-2025
- Business
- Bloomberg
UniCredit to Start Legal Action Over Italy Conditions on BPM Bid
UniCredit SpA plans to file a claim with Italy 's administrative court to assess the conditions imposed by the government on its bid for Banco BPM SpA, according to a statement. The claim will also support the European Union in its review of the situation, the Italian bank said in the statement on Friday.
Bloomberg
21-05-2025
- Business
- Bloomberg
UniCredit Gets 30-Day Suspension by Regulator on Banco BPM Bid
Italy 's market regulator Consob suspended UniCredit SpA 's takeover bid for Banco BPM SpA for 30 days while the lender is in talks with the government to clarify conditions imposed on the deal. Consob stated that the process undertaken by UniCredit leads to uncertainties that may affect investors' ability to make a decision over the deal, according to a statement on its website. The regulator suspended the offer in order to clarify the situation and update the offer document.
Bloomberg
30-04-2025
- Business
- Bloomberg
Credit Agricole's BPM Decision Hinges on What It Gets in Return
Credit Agricole SA wants to renew an asset management distribution deal with UniCredit SpA, but it hasn't yet decided whether it will support the Italian lender's bid for Banco BPM SpA. 'This will be an optimization decision for us,' Philippe Brassac, Credit Agricole's chief executive officer, said on a call with reporters. 'We will act to ensure that we emerge stronger from this situation, not weaker.'
Bloomberg
24-04-2025
- Business
- Bloomberg
UniCredit and Generali Are Testing Italy's Future
It's hard to see the Italian government's use of special security powers to impose conditions on UniCredit SpA's bid for Banco BPM SpA as anything other than political interference. The strategy will rattle investors and is provoking a fight with Europe for the sake of a bogus mission to prop up funding for domestic companies and public debt. Italy will be hurt more than helped by this move. The government told UniCredit late Friday that it would use its so-called Golden Power to restrict how the bank can manage BPM if the $11 billion takeover it launched last November succeeds. The rules were designed more than a decade ago to protect strategic assets from foreign control, but were extended in recent years to cover some domestic deals.
Bloomberg
23-04-2025
- Business
- Bloomberg
UniCredit Board Meets After Italy Imposes Hurdles on BPM Deal
UniCredit SpA held a board meeting on Wednesday to discuss what actions to take after the Italian government imposed conditions on the lender's takeover bid for Banco BPM SpA, according to people familiar with the matter. The board members reviewed potential steps after Rome invoked the so-called Golden Power rules for transactions involving strategic assets, the people said. They asked not to be named as the meeting is not public.
