Reported 22 days ago
Shares of UniCredit and Banco BPM increased following reports that the European Union is likely to require the Italian government to remove the conditions imposed on their merger. UniCredit has stated that it cannot proceed with the deal under the current conditions, which include restrictions on its operations in Russia and BPM’s loan-to-deposit ratio. A decision from the EU is anticipated soon, which may confirm that only Brussels has the authority to set conditions for the merger.
Source: YAHOO