UniCredit to Start Talks With Rome Over BPM Offer, Orcel Says

UniCredit SpA is about to start talks with Italian government officials to clarify a number of aspects linked to the conditions imposed on its takeover offer for Banco BPM SpA, Chief Executive Officer Andrea Orcel said.

The bank is still evaluating whether to proceed with the bid for Banco BPM after several developments including restrictions imposed by the government made the deal less attractive, Orcel said in an interview with Bloomberg News on Monday.

Andrea Orcel

Photographer: Betty Laura Zapata/Bloomberg

Rome said in April that it will only allow UniCredit’s bid for Banco BPM to go forward if it meets a sweeping set of ...