Italy will submit a new proposal to address the European Commission’s concerns over its application of “golden powers” in banking mergers, Economy Minister Giancarlo Giorgetti announced. The move follows the Commission’s infringement proceedings related to Italy’s decision to block UniCredit’s attempted takeover of Banco BPM.
Giorgetti noted that the objections focus on the 2022 reforms to Italy’s Golden Power law. He emphasized that the government will respond within the appropriate EU channels and aims to resolve the issue through a constructive and cooperative approach.
He added that Italy will introduce a regulatory proposal designed to clarify the law and address the Commission’s concerns, expressing confidence that it will help establish a shared and balanced framework for future decisions.