UniCredit CEO Says He’s Got Until March to Review Banco BPM Bid

UniCredit SpA has until the middle of March to tweak its takeover bid for Banco BPM SpA, Chief Executive Officer Andrea Orcel told investors at a closed door meeting Wednesday.

Orcel, who made the remarks at an event hosted by Bank of America Corp., also said that most of the projected savings wouldn’t come from job reductions, according to people who attended the event. They asked not to be named because they weren’t authorized to talk about it.