0847 GMT - UniCredit is ready to drop its Banco BPM takeover offer if the Italian government doesn't clarify the conditions imposed on the transaction, the bank's CEO says at a conference. UniCredit launched an unsolicited offer for its domestic rival last year and Rome has set out prescriptions to greenlight the deal. If the transaction closes without clarity and the lender finds itself in breach, it could face a fine of 20 billion euros, Andrea Orcel says, adding that he won't take that risk. The probability that the BPM acquisition will go through is currently around 20%, the executive calculates. Orcel has said before that he is open to walking away if the conditions jeopardize value creation. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
June 11, 2025 04:47 ET (08:47 GMT)
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