Unicredit's recent public exchange offer for Banco Bpm has stirred significant controversy in Italy.
The move, valued at over ten billion euros, surprised many, including Transport Minister Matteo Salvini, who criticized the potential disruption of a planned third Italian banking hub involving Banco Bpm and Montepaschi.
Salvini expressed concerns over banking monopolies and questioned the role of the Bank of Italy in overseeing such deals.
Meanwhile, the Italian Treasury, having recently reduced its stake in Montepaschi, is also on alert, with Minister Giancarlo Giorgetti noting the government's "golden power" to intervene.
The financial markets reacted with mixed signals, as Unicredit's shares fell while Banco Bpm's rose, reflecting the uncertainty surrounding the deal.
