UniCredit SpA is likely to withdraw its bid for smaller rival Banco BPM, the Italian bank's chief executive Andrea Orcel said on Friday, Reuters reported, according to Agerpres. In April, UniCredit secured approval from the European Central Bank (ECB) for its takeover of Banco BPM, a deal estimated at 14 billion euros. In an interview with Italian newspaper La Repubblica, Orcel said UniCredit would continue to try to overcome the Italian government's obstacles, according to the conditions set

Tag-uri: UniCredit Bank