Italy’s Market Authority Mulls Pausing UniCredit’s BPM Bid (1)

Italy’s market regulator Consob is analyzing whether to suspend UniCredit SpA’s takeover bid for Banco BPM SpA, after an Italian court challenged some of the requirements imposed by the government on the deal.

“We are studying” the matter, Consob Chairman Paolo Savona told a parliamentary hearing Thursday. The offer period is currently set to end July 23.

While this month’s court ruling and a separate letter from the European Union criticizing Rome over its meddling have provided some backing for UniCredit, the government has yet to respond to both in detail. Without clarity on the conditions, Chief Executive ...