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Euronews
Euronews
Euronews

European Commission challenges Italy over 'golden power' on mergers

Commission European Union Italy Europe UniCredit Banco BPM European Commission

The European Commission has opened an infringement procedure against Italy regarding the use of the golden power rule toblock the acquisition of Banco Bpm by UniCredit.

The Commission expressed concern about the regulation, which gives the Italian government wide prerogatives to examine, block, or impose conditions on corporate transactions in the banking sector.

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