The European Union warns Italy against interfering in the acquisition of Panco BMB in Unicredit

In a legal move that puts a struggle for power between Brussels and Rome, European Union officials accused the Georgia Meloni government of violating the European Union law in imposing national conditions on the deal. Bloomberg earlier I mentioned Step.

Brussels -based CEO that Italy’s application to its golden power on the Unicredit deal “may contradict” the rules of integration into the mass, highlighting how Rome’s “move” lacks adequate thinking.

The European Union said that the government’s move appears to be “incompatible with other provisions of the European Union law, including freedom of movement in the capital and to oversee wisdom by the European Central Bank.”

In preliminary results, the European Commission added that it should have reviewed the Italian government’s application of its golden authorities before implementing it in the deal.

On Monday, the rising on Monday may pave the way for a legal portrayal that could eventually land in the European Union’s Court of Justice, if Italy eventually refuses to appease concerns. Rome has now been asked to respond to the results of the committee.

The European Union’s position adds to criticism by an Italian court, which has dropped some of the regulatory requirements imposed by the state in a decision to be published on Saturday.

The Lazio Administrative Court overthrew the Italian government’s request to reduce the loan ratio to primary in Banco BPM and Unicredit in Italy for a period of five years, and not to reduce the current level of Banco BPM and the Unicredit Project Fund in Italy.

However, the court supported the government’s order to leave Russia and maintain local investments that have not changed in the newly obtained Banco BBM spa.

Unicredit welcomed the local court’s decision as “unambiguous evidence that the way the golden authority was used was illegal.

A government official said that the decision largely confirms the legitimacy and structure of medical prescriptions.

Unicredit revealed its unwanted offer to all the participation of Banco BPM in November, when it became clear that the Italian government was looking to build a large banking group about the previously resorted Panca Mont Desina Resort. Banco BPM was seen as a potential candidate to integrate with Monte Paschi.

Orcel escalated the confrontation with the Italian government in May, when a demand for the Administrative Court has submitted due to the extensive circumstances imposed on the potential deal.

Despite the results of the Italian referee, it is unclear whether Unicredate will continue to follow a deal with Banco BPM due to the presence of many requirements and the end of the presentation period was confirmed on July 23.