A person walks past the UniCredit bank branch in Rome, Italy, November 25, 2024. REUTERS/Yara Nardi/File Photo
ROME: Italy has cleared with conditions UniCredit’s takeover bid for rival Banco BPM, with sources saying a speedier exit from Russia is among demands set by Rome for the bank led by chief executive officer Andrea Orcel.
UniCredit’s presence in Russia is a bone of contention also with the European Central Bank, which last year ordered the Italian lender to hasten its disentanglement.
