EU Probes Italy's Golden Power Rule, Blocks UniCredit-Banco BPM Merger

The European Commission has initiated a formal investigation into Italys use of the golden power rule, which was employed to block a merger between UniCredit and Banco BPM. The Commission argues that this action may contravene EU principles of free capital movement and establishment. Italy has two months to address these concerns, while UniCredit has withdrawn its offer due to government restrictions and deadlines.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.