Unicredate stops its BPM’s display on the conditions of the Italian government

Unicredit announced that it is unable to move forward in a final decision regarding the Banco BPM general exchange offer, after the conditions imposed by the Italian government.

The bank received a decree from the Presidency of the Council of Ministers, in detailing the restrictions under the gold energy process for its continuation.

Conditions relate to the future operations of the integrated entity, including credit activity, liquidity management, and unicredit business in Russia.

The additional restrictions on the ability of the Unicredit to the management of shareholders and assets subject to the Anima Holding, the director of assets that Banco BPM is currently following through separate treatment.

Unicredit stated that although it aims to maintain the support of the new group of small and medium -sized companies, and to maintain their asset management practices in the interest of customers, the conditions imposed raises concerns.

The bank indicated that this may restrict its operational freedom and lead to penalties in the event of compliance cases.

Unicredit also raised questions related to the unusual application of private authorities in a local treatment between Italian banks, indicating that conditions can exacerbate with both Italian law and the European Union.

The bank said that the recipes of the government may harm its freedom and ability to make wise decisions and may lead to unintended consequences, including fines.

Unicardit said she had responded to the authorities with her perspective on the decree and awaiting more notes.

Until then, the bank stated that “it is not in a position to make any conclusive decision on the front” on the acquisition of Banco BPM.

Earlier this month, unicredit Obtain approvals From the European Central Bank (ECB) and Italy Bank to move forward in its plan to take over Banco BPM.

“Unicredit stops the Banco BPM display on the conditions of the Italian government” was originally created and published by Banker Retail InternationalThe brand owned by Globaldata.

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