Milan (Reuters) – Unicredit reminded Banco BPM shareholders on Monday that she could withdraw her buy -back proposal, if they approve of the Italian banking group on the animal active manager.

Last week, Banco BPM announced to improve the price of its buyout offer for Anima Holding, an operation of which the third Italian bank in terms of capitalization needs to achieve its profits and distribution objectives, and which was complicated by the ‘Interest of Unicredit on Banco BPM.

When launching its buyout offer on Banco BPM in November, shortly after BPM’s offer on Anima, Unicredit had declared that its proposal was based on the maintenance of the terms of the BPM offer on Anima.

Unicredit, the second Italian bank in terms of capitalization, said that he had made no decision, but wanted to make sure that the shareholders of Banco BPM were “fully aware of the risks and uncertainties underlying the proposals that have been made and possible consequences of their decisions “.

Banco BPM did not immediately comment.

Banco BPM shareholders will vote on February 28 on BPM’s proposal to align the price of the market price.

The bank will also ask shareholders to authorize it to a potential prosecution of the offer before knowing whether the European Central Bank authorizes it to use favorable capital rules.

The price of Anima’s action being higher than Banco BPM’s offer, the failure of the buyout is almost certain without the increase proposed by BPM.

If Banco BPM manages to obtain the shareholders’ agreement to increase the price of the offer, two major investors from Anima, Italiane post and the FSI private investment fund, have already said that they would give in to BPM.

(Valentina ZA, Etienne Breban, edited by Augustin Turpin)

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