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UniCredit CEO not surprised by government’s reaction to Banco BPM deal

By TRENDING GOV/POLITICSNov 25, 2024

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UniCredit CEO Andrea Orcel said the Italian government’s initial response to his bank’s unsolicited bid for rival Banco BPM is only natural as every change in the banking system needs careful assessment. After sparking a backlash in Germany in recent months by buying a stake in Commerzbank, UniCredit on Monday drew a concerned response from Italy’s government with its 10 billion euro ($11 billion) move on Banco BPM.

Government