Italy to Reimpose Most of Its Conditions on UniCredit’s BPM Bid

Italy is working on a new decree which is set to reimpose most of its conditions for UniCredit SpA’s planned takeover of Banco BPM SpA, underscoring Rome’s continued resistance to the bid.

The decree will acknowledge a recent court ruling but keep the framework of the requirements in place, according to people familiar with the matter. The draft is still in the early phase and its contents could still change, the people said, asking not to be named as the information is not public.

A spokesperson for the government declined to comment.

Italy’s market regulator on Tuesday paused ...