Deals
Italy Readying Review of UniCredit’s BPM Bid Under Golden Power
- Special process allows for conditions if a deal is approved
- Broader goal is to protect BPM’s branches, jobs, people say
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Italy is preparing to start a formal review of UniCredit SpA’s unsolicited offer for Banco BPM SpA, people familiar with the matter said, a process under the government’s “Golden Power” rules that may impose conditions should a deal be approved.
Prime Minister Giorgia Meloni’s government intends to start the special process that allows authorities to block or impose conditions on transactions involving strategic assets, the people said, asking not to be identified discussing confidential information. The broader goal is to protect Banco BPM’s branches and jobs, they added.