BRUSSELS (Reuters) -EU antitrust regulators will rule on Italian bank UniCredit’s takeover bid for its smaller rival Banco BPM by June 4, according to a filing on the European Commission website.
UniCredit’s offer, which runs until June 23, has already been rejected by Banco BPM as too low.
The EU competition watchdog can approve the bid with or without remedies at the end of its preliminary review or it can open a four-month-long investigation if it has serious concerns.
The Italian government has used its ‘golden power’ to impose conditions on the deal.
(Reporting by Foo Yun Chee; Editing by Kirsten Donovan)
