US EditionUniCredit Gets 30-Day Suspension by Regulator on Banco BPM Bid
- UniCredit received a 30-day suspension on its all-share offer to acquire Banco BPM amid Italy's banking sector consolidations.
- The suspension followed government conditions and an EU antitrust deadline extension from June 4 to June 19 to review the deal.
- This occurs within interconnected deals including MPS's bid for Mediobanca, Mediobanca's offer for Banca Generali, and BPER's bid for Popolare di Sondrio.
- UniCredit CEO Andrea Orcel said, "We cannot remain absent from that move," highlighting Banco BPM's recent €1.8 billion acquisition of Anima Holding.
- UniCredit plans to legally challenge the government's conditions, potentially delaying Italy's bank consolidation process further.
12 Articles
12 Articles
Tension with the government on the resolution of the Authority that has lengthened of 30 days the offer of Unicredit for the acquisition of Banco Bpm. The president of the Consob reply: "We have applied the law"
The fusion drums do not stop ringing in Europe. BBVA-Banco Sabadell, Unicredit-BPM and Novo Banco... with CaixaBank. M&A’s new batch meets the market forecasts that saw the Basque bank’s approach to the Catalan group as the anteroom to what was to come with Spain and Italy at the centre of the matter. A trend that despite having the blessing of the European Central Bank (ECB), is, however, encountering the frontal opposition of the governments.
30-day stop. Unicredit has filed an application to reopen golden power. Moves on the Emilian Institute are also possible. CONSOB stops everything. Thirty days to stop Unicredit's Ops on Banco Bpm. A nice gift because it accepts the request of the same Ops knight, Andrea Orcel. Serv...
Reactions broken down by Unicredit's counterparts, the policy and Banco Bpm, in front of Consob's decision to accept Andrea Orcel's bank's request to suspend for 30 days the current offer on the Milanese institute dear to the League. I am very surprised by Consob's decision, although taken by majority as can be understood by the boatos that come from the palace of the authority.
The bank of Piazza Gae Aulenti has moved almost immediately to be able to open a channel of dialogue with the government that has decided to impose prescriptions on the offer for Banco Bpm. Now the Ceo Andrea Orcel has more time to negotiate with the executive or to start new operations
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