EU Warns Italy Over Powers That Foiled Banco BPM Deal

The European Union fired a warning shot to Italy over so-called Golden Powers used to thwart UniCredit SpA’s aborted takeover of Banco BPM SpA, ramping up a power struggle between...

By Peter Chapman, Samuel Stolton · Bloomberg Markets

The European Union fired a warning shot to Italy over so-called Golden Powers used to thwart UniCredit SpA’s aborted takeover of Banco BPM SpA, ramping up a power struggle between Brussels and Rome amid the bloc’s push for banking consolidation.