The Italian court has annulled some conditions imposed on UniCredit's takeover of Banco BPM, but the requirement to stop doing business in Russia remains.

UniCredit SpA has obtained the partial annulment of conditions imposed by the Italian government on its takeover of Banco BPM, but remains obliged to halt its Russian operations until 2026. Although UniCredit has significantly reduced its exposure in Russia, it faces difficulties in meeting government requirements. CEO Andrea Orcel said that if the problems persist, the bank will consider withdrawing from the offer. The court confirmed the legality of the requirement to leave Russia, underlining the importance of the decision.