Italy Plans to Stick With Its Tough Terms on UniCredit’s BPM Bid

Italy is set to keep the strict conditions it imposed on UniCredit SpA to take over rival lender Banco BPM SpA, even if the bidder starts a legal battle to ease those terms.

Prime Minister Giorgia Meloni’s government is not planning to soften wide-ranging conditions imposed on the potential purchase even if UniCredit proceeds with an appeal at the country’s administrative court, according to government officials, who asked not to be named.

A spokesperson for the Italian government declined to comment on the matter. A spokesman for UniCredit also declined to comment.

Milan-based UniCredit, led by Chief Executive ...