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UniCredit Seeks EU Green Light for Banco BPM Deal with Antitrust Concessions

By  |  May 27, 2025

Italian banking giant UniCredit has taken a significant step toward securing regulatory approval for its proposed acquisition of Banco BPM, submitting concessions to the European Commission in an effort to address potential antitrust concerns, according to Reuters.

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    The European Commission acknowledged the submission on its official website earlier this week but, in line with its standard procedures, did not disclose the nature of the proposed remedies. The Commission, which monitors competition across the 27-member European Union, may now solicit input from market participants—including competitors and customers—before determining the next course of action.

    Per Reuters, the regulatory body has until June 19 to complete its initial assessment. Depending on the feedback received, the Commission could either approve the deal with the proposed remedies, request additional concessions, or escalate the case to a more detailed investigation. Alternatively, the matter could be delegated to a national regulator if a request—filed by an undisclosed authority—is granted.

    Related: EU Antitrust Regulators Push Back Deadline on UniCredit’s Takeover Bid for Banco BPM

    The €8 billion merger would mark one of the most consequential consolidations in the Italian banking sector in recent years, potentially reshaping the competitive landscape. However, regulatory scrutiny remains a key hurdle for the transaction.

    Further complicating the process, UniCredit CEO Andrea Orcel indicated earlier this week that the deal’s completion is contingent on changes to the conditions imposed by the Italian government. Orcel noted that UniCredit is currently challenging those conditions in court, emphasizing that the bank will not proceed with the merger unless satisfactory adjustments are made, according to Reuters.

    Source: Reuters