Orcel's move spies on the government. Giorgetti: 'There is golden power'

The voluntary public exchange offer on the entirety of the shares of Banco Bpm launched by Unicredit stirs up politics and displeases the government.

Unicredit's operation on Banco Bpm was 'communicated but not agreed with the government,' said Economy Minister Giancarlo Giorgetti on the sidelines of a hearing in San Macuto. "Then we will see, as is known there is golden power. The government will make its assessments, it will evaluate carefully when Unicredit sends its proposal for the relevant authorisations,' he added.

"Quoting von Clausevitz, the surest way to lose the war is to engage on two fronts, then who knows, maybe this time this rule will not be true,' Economy Minister Giancarlo Giorgetti said again, commenting on the ops launched by Unicredit on Banco Bpm, on the sidelines of a hearing in San Macuto.

Raising doubts is Matteo Salvini: 'I never like concentrations and monopolies,' said the Infrastructure Minister, 'I was left with the fact that Unicredit wanted to grow in Germany. I don't know why he changed his mind. Unicredit now has little or nothing Italian about it: it is a foreign bank, and it is important to me that realities such as BPM and MPS, which are working together, Italian subjects that could create the third Italian pole, are not put in difficulty'. And again: 'My question and that of many savers is: but is Bankitalia there? Is it watching?" The deputy prime minister and leader of the League adds: 'I wouldn't want anyone to stop the Bpm-Mps agreement to do a favour for others'.