Overview

• On June 4, UniCredit abandoned its request for provisional suspension of the government’s April 18 golden power decree over its exchange offer for Banco BPM.
• Tar del Lazio scheduled a hearing on July 9 to rule on the merits of UniCredit’s appeal against the golden power decision.
• UniCredit engaged with the Economy Ministry after a May 30 communication clarified how ministry-led monitoring of the decree’s prescriptions will be conducted.
• Consob had suspended UniCredit’s offer on Banco BPM for 30 days from May 21, extending the deadline to July 23 pending regulatory clearance.
• A European Commission antitrust verdict on the acquisition is expected on June 19 and will influence the deal’s final approval.