Unicredit renounces the suspension to the TAR on the Golden Power: the decision of merit will be expected
The bank motivated the decision in the light of the clarifications received by the Treasury on the Decree of the Council of Ministers. The hearing on the merits of the provision is set on 9 July
Hand tense of unicredit in government in the match of Golden Power opposite to OPS on Banco BPM. The bank led by Andrea Orcel, according to what has been learned, during the hearing in the council chamber at the Tar of Lazio – on the morning of June 4 – renounced the request for suspension on special powers. The Court therefore set the hearing on merit for July 9 to verify the validity of the bank’s complaint. Both the application for suspension and the discussion on merit are part of the appeal filed by the credit institution against the Decree Law of the Council of Ministers of 18 April 2025.
Dialogue tenor
Having received the clarifications on the Golden Power from the Treasury as part of the monitoring procedure and having therefore found a dialogue tone by the government, Unicredit thus motivated the choice of this morning in front of the court: the bank « Takes the response provided by the MEF and in return, he withdrawn the request for provisional measures to allow a constructive dialogue with the MEF », It reads in a declaration. Unicredit, however « maintains its position on the merits of the Golden Power, but asked that the judgment of the Lazio Tar be accelerated to make definitive clarity ». Consob had announced the suspension for thirty days of the Unicredit offer on the former Milanese popular offer on 28 April, and which should have ended on 23 June, making it slip on 23 July. The decision had unleashed the ire of the counter that spoke of « abnormal measure » and « in contrast with the practice of the authority itself which does not take into account the interests of the bank, the market and the shareholders of Banco BPM ».
The Government stakes
The Ministry of Economy on May 30, while confirming the full legitimacy and the possibility of concrete realization of the obligations imposed by the Decree of the Council of Ministers, recalled the possibility by the Banking Institute to communicate and demonstrate the circumstances that do not allow the fulfillment of the individual requirements. The government had asked Unicredit to leave Russia by January 18, to keep the current portfolio of soul government bonds for a period of at least five years (incorporated from Banco BPM with an Opa in April) and to always keep the employment/deposits relationship for five years. For example, it is possible that the 270 companies that continue to operate in Russia by relying on Unicredit continue to receive payments and support from the credit institution even beyond January 18.
