UniCredit Says It Replied To Italy's Government On Golden Power Prescriptions About Its Bid For Banco BPM, Waiting Feedback
Reuters
04-22
April 22 (Reuters) - Banco BPM SpA :: *RECEIVED ON APRIL 18 DECREE FROM ITALY'S AUTHORITIES REGARDING APPROVAL FOR BID FOR BANCO BPM WHICH INCLUDES NUMBERS OF PRESCRIPTIONS *DECREE CONCERNS LIMITS TO HOW BANK WILL RUN FUTURE CREDIT ACTIVITIES, LIQUIDITY, DISPOSE SHAREHOLDINGS, MANAGE ANIMA'S ASSETS, ITS ACTIVITIES IN RUSSIA *CLEARLY INTENDS TO MAINTAIN OR GROW EXPOSURE ON SMALL AND MEDIUM ENTERPRISES *COMMITTED TO KEEP REDUCING ITS PRESENCE IN RUSSIA *REPLIED TO GOVERNMENT ON GOLDEN POWER PRESCRIPTIONS, WAITING FEEDBACK *DEAL CONDITIONS ARE OPEN TO DIFFERENT INTERPRETATIONS AND COULD APPEAR NOT FULLY ALIGNED WITH ITALIAN, EU LAWS *PRESCRIPTIONS IMPOSED COULD HARM ITS FULL FREEDOM AND ABILITY TO TAKE FUTURE PRUDENT DECISION *NOT IN POSITION TO TAKE ANY CONCLUSIVE DECISION ON THE WAY FORWARD REGARDING ITS BID FOR BANCO BPM *GOLDEN POWER USE NOT CLEAR, BUT NOT ON SIMILAR TRANSACTIONS UNDERWAY