UniCredit CEO Signals Potential Withdrawal from Banco BPM Bid
Deal News | Jun 20, 2025 | Zawya
UniCredit's CEO Andrea Orcel revealed in an interview with La Repubblica that the bank is likely to withdraw its bid for Banco BPM due to obstacles presented by the Italian government's 'golden power' conditions and court challenges. Although UniCredit has made significant efforts to comply, including reducing its operations in Russia at the request of the European Central Bank, finding an acceptable buyer for its Russian assets has proven difficult. Orcel stated that UniCredit would remain an investor in Commerzbank despite opposition to a takeover from the German government and the bank itself. Additionally, UniCredit reported potential irregularities to Consob regarding the sale of a 15% stake in Monte dei Paschi di Siena. Orcel was questioned by Milan prosecutors as a witness in the case. Despite these hurdles, Orcel is optimistic about UniCredit's prospects independent of mergers and acquisitions.
Sectors
- Banking
- Financial Services
- Government Regulation
Geography
- Italy – The primary setting is Italy, where UniCredit is headquartered and challenges with the Banco BPM transaction are centered.
- Russia – The discussion includes UniCredit's activities and divestments in Russia as part of its strategic moves.
- Germany – UniCredit's potential interest in Germany's Commerzbank highlights the geographical relevance.
Industry
- Banking – The article involves major banking institutions like UniCredit and Banco BPM, which are significant players in the financial services sector.
- Financial Services – The discussion of M&A activity, regulatory conditions, and asset management pertains to the broader financial services industry.
- Government Regulation – There is significant involvement of government regulation, particularly the 'golden power' conditions affecting UniCredit's strategy.
Financials
- 15% – Represents the stake in Monte dei Paschi di Siena subject to sales irregularities.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| UniCredit | Bidding Company | Company | UniCredit is a leading Italian bank involved in merger and acquisition activities. |
| Banco BPM | Target Company | Company | Banco BPM is the smaller bank targeted by UniCredit for acquisition. |
| Andrea Orcel | CEO of UniCredit | Person | Andrea Orcel is the Chief Executive Officer of UniCredit, steering its strategic decisions. |
| Commerzbank | Potential Acquisition Target | Company | A German bank that UniCredit considered for acquisition but faces challenges. |
| Consob | Market Regulator | Government | Italian market regulator where UniCredit reported potential anomalies in share sales. |
| Monte dei Paschi di Siena | Involved in Share Sale | Company | An Italian bank involved in a problematic sales transaction mentioned by UniCredit. |
| Anima | Asset Manager | Company | Asset manager involved in the sale of a 15% stake handled controversially. |
| Banca Akros | Subsidiary of Banco BPM | Company | Involved in handling the sale of stakes leading to regulatory scrutiny. |