UniCredit CEO says likely to withdraw offer for Banco BPM

ROME: The chief executive of UniCredit said in a newspaper interview on Friday the Italian bank was likely to withdraw its offer for smaller peer Banco BPM.

Andrea Orcel told daily La Repubblica that his bank would continue to try to overcome government-imposed conditions and court appeals.

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“But if we don’t manage to resolve (the problems), as is probable, we will withdraw,” he said.