Unicredit has closed the chapter on Banco BPM acquisition, CEO Orcel says

Amundi SA

12/11/2025 13:27

MILAN, Nov 12 (Reuters) - Italy's UniCredit CRDI.MI has given up on plans to acquire smaller rival bank Banco BPM BAMI.MI, 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)

 ((giulio.piovaccari@thomsonreuters.com))