The Italian government is ready to use its special vetting powers if UniCredit's takeover bid for smaller rival Banco BPM goes against the national interest, the prime minister said on Monday. "This is a market operation

UniCredit SpA has hired Deloitte LLP to advise Italy’s second-biggest bank on its takeover bid for Banco BPM SpA, people familiar with the matter said.

"Italy’s UniCredit makes buyout offer for Banco BPM" was originally created and published by Retail Banker International, a GlobalData owned brand.

UniCredit's bid for BPM also throws a spanner in the works for Italy's government, which had advanced plans for a merger of BPM with rival Monte dei Paschi di Siena which it saw as strengthening its banking sector without harming competition.

Banco BPM SpA said the takeover bid it has received from UniCredit SpA wasn’t agreed in advance and isn’t in line with its performance.

Banco BPM gathers its board on Tuesday for an initial discussion on the 10 billion euro ($10.5 billion) unsolicited takeover offer that rival UniCredit has launched for Italy's third-largest

Italy reserves the right to use its golden power legislation aimed at shielding strategic assets in regards to UniCredit's plans to take over Banco BPM , Economy Minister Giancarlo Giorgetti said.

STORY: Italy's UniCredit on Monday (November 25) launched a surprise $11 billion all-share offer for rival Banco BPM.That’s while it pursues a contentious deal for Germany's Commerzbank.The proposal offers 0.

The Italian Treasury has denied a report that it is drafting an emergency decree to counter UniCredit’s (OTCPK:UNCFF)(OTCPK:UNCRY) 10B euro ($10.6B) bid for Banco BPM, Reuters reported late Friday. UniCredit made the offer for the smaller rival on Monday,

The Italian Treasury on Friday denied drafting an emergency decree to counter UniCredit's takeover bid for smaller rival Banco BPM after the Financial Times reported Rome was considering this option.