MILAN (Reuters) -Italy’s UniCredit has given up on plans to acquire smaller rival bank Banco BPM, Chief Executive Andrea Orcel said on Wednesday.
“We closed the chapter on Banco BPM,” Orcel said during a conference in Milan, organised by Bloomberg.
UniCredit in July withdrew a takeover bid for Banco BPM which it launched last year, blaming government intervention.
(Reporting by Valentina Za; writing by Giulio Piovaccari, editing by Gavin Jones)
