UniCredit withdraws takeover offer for Banco BPM

6 hours ago 1
Unicredit Tower in Milan, Italy

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UniCredit (OTCPK:UNCFF) is withdrawing its takeover bid for Banco BPM (OTCPK:BNCZF) as the condition for "golden power authorization" wasn't satisfied.

“My primary responsibility is to act in the best interests of UniCredit and our shareholders," UniCredit CEO Andrea Orcel said in a

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