(Alliance News) - UniCredit is considering a 15-day extension to its takeover bid (OPS) for Banco BPM, which is currently set to expire on July 23, according to a report by Il Sole 24 Ore on Thursday.
Discussions with Consob, the Italian financial markets regulator, are ongoing. The authority could unilaterally suspend the operation for up to 30 days, potentially pushing the total delay to 45 days and extending the timeline into September.
No formal request has been submitted at this stage. However, if negotiations do not progress, UniCredit may consider launching a second OPS once the current offer expires, Il Sole adds.
Uncertainty surrounds the Golden Power mechanism: the European Commission has accused Italy of violating EU law and is demanding the immediate repeal of the DPCM decree. The government has until August 12 to respond.
The domestic situation is also complex, the newspaper notes. The Lazio Regional Administrative Court (TAR) has partially upheld UniCredit's appeal, forcing the government to either amend or challenge the decree. Meanwhile, Crédit Agricole could increase its stake in BPM to over 20%, complicating UniCredit's plans to reach a 66% share and complete the integration.
In this context, time and negotiations remain the only tools available to the bank.
By Claudia Cavaliere, Alliance News reporter
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