Italy Denies Plans to Counter UniCredit's Takeover Bid for BPM

Reported 11 days ago

Italy's Treasury has dismissed reports suggesting that the government is drafting an emergency decree to counter UniCredit's €10 billion unsolicited takeover bid for Banco BPM, which BPM has rejected. The government's aim to strengthen the banking sector through a merger with Monte dei Paschi di Siena has been complicated by UniCredit's bid, and while Italy's Economy Minister indicated the possibility of using golden power legislation to protect strategic assets, the report of a decree is deemed unfounded.

Source: YAHOO

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