Italian Court Eases Path for UniCredit's Banco BPM Takeover

In a significant development, the Administrative Court of Lazio has removed major hurdles for UniCredit's unsolicited bid for Banco BPM, specifically overturning government-imposed restrictions on the loan-to-deposit ratio and project finance portfolio maintenance.

However, the court stood firm on the condition mandating UniCredit's exit from Russia. The Milan-based banking giant, which has already reduced its Russian footprint, now faces the challenge of securing Moscow's approval for a complete divestiture.