Italy Defends Right to Restrict UniCredit’s BPM Bid in EU Reply

Aug. 12, 2025, 1:37 PM UTC

Italy has pushed back against European Union criticism of Rome’s power to block or limit deals, which Prime Minister Giorgia Meloni recently used in UniCredit SpA’s now-failed attempt to acquire Banco BPM SpA.

The Italian government said in a letter to Brussels that the terms it had set for a deal to go ahead were in line with the EU law, people familiar with the matter said. Rome sent its response after a preliminary finding by the European Commission said Giorgia Meloni’s government may have violated EU law.

A spokesperson for the Italian government declined to comment. ...

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