UniCredit Submits Bid for Banco BPM, Seeks Government Approval Amid Golden Power Considerations

UniCredit has formally submitted a bid to the Italian government seeking approval to acquire Banco BPM. This request is part of the bank's strategy to enhance its market position. The government now faces the decision of whether to exercise its 'golden power' to block the acquisition. The term 'golden power' refers to the Italian government's ability to intervene in certain transactions deemed critical for national interests. The bid notification was confirmed by multiple sources, including ANSA and La Stampa, highlighting the increasing scrutiny on banking mergers in Italy.