Banco BPM Challenges UniCredit Bid with Antitrust Complaint
MILAN (Reuters) - Italy's Banco BPM has filed a complaint with the national antitrust authority over UniCredit's takeover bid for the bank, a source close to the matter said on Wednesday.
Banco BPM had previously complained to market watchdog Consob that UniCredit's 10 billion euro ($10.32 billion) all-share bid could be seen merely as a way to block its buyout proposal for fund manager Anima.
In its complaint with the competition watchdog, Italy's third-largest bank alleged that UniCredit’s exchange offer was aimed at eliminating a troublesome competitor and stifling its operations, the source said.
Banco BPM and the Italian antitrust authority declined to comment.
News of the Banco BPM's antitrust complaint was first reported by Il Messaggero daily on Wednesday.
($1 = 0.9691 euros)
(Reporting by Andrea Mandalà, editing by Giulia Segreti and Jan Harvey)
