The market value of Banco BPM and the presence of Crédit Agricole as the bank's main shareholder represent a barrier to any new takeover attempt by UniCredit.
This was stated by Andrea Orcel, CEO of UniCredit.
Speaking before a parliamentary committee in Rome, Orcel said that, although in life nothing can ever be completely ruled out, the "BPM chapter is closed" for UniCredit.
Orcel reiterated that the legal battle his bank is pursuing over the terms set by the government for a deal on BPM--which UniCredit blames for the failed bid--aims to provide clarity and refute the notion that UniCredit could pose a threat to national security.
(Translated by Agnese Napoletti, editing by Stefano Bernabei)
