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Investing.com -- UniCredit SpA (LON:0RLS) has hired Kitra Advisory to manage the potential sale of branches if its acquisition of Banco BPM SpA proceeds, according to Bloomberg, citing people familiar with the matter.
The Italian lender is preparing for possible branch disposals across Italy to address European Union antitrust requirements should the takeover be completed. These preparations, part of a project called Stardust, come despite signals that the deal may not move forward.
UniCredit CEO Andrea Orcel has repeatedly stated he might withdraw from the acquisition due to strict conditions set by the Italian government. The tender offer is currently on hold to allow for additional discussions between UniCredit and Rome, but is expected to resume next week.
The bank’s proactive approach to branch sales suggests it is exploring all options while negotiations continue, though the ultimate fate of the acquisition remains uncertain.
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