Reported 23 days ago
UniCredit, Italy's second-largest bank, has obtained approval from the European Central Bank for its €14 billion all-share bid to acquire Banco BPM. This move follows a surge of profit in Italian banking after the 2008-2012 crisis, and while UniCredit will soon finalize funding for its bid, it plans to delay the tender launch. CEO Andrea Orcel emphasized that shareholder returns will not be compromised in pursuing the acquisition, amidst ongoing scrutiny related to BPM's recent Anima Holding acquisition.
Source: YAHOO