Alessandra Migliaccio

5 days ago | bloomberg.com | Craig Stirling |Alessandra Migliaccio

Premier Giorgia Meloni’s government has narrowed deficits toward the 3% ceiling demanded by the European Union, and is on track for budget shortfalls to drop below that level by next year. (Bloomberg) -- Italy retained hope of returning to a credit rating level it last held before the pandemic, as Morningstar DBRS kept a positive outlook on its debt. The country’s score remains at BBB (high), three steps above junk, and skewed toward a possible upgrade in due course, the company said on Friday.

5 days ago | news.bloomberglaw.com | Sonia Sirletti |Alessandra Migliaccio |Alberto Brambilla

The Italian government will allow UniCredit SpA’s takeover bid for Banco BPM SpA to move forward, provided some conditions are fulfilled. Following an in-depth review, Prime Minister Giorgia Meloni’s cabinet decided “in defense of strategic interests and national security” to place some conditions on the €13 billion ($14.8 billion) acquisition before allowing it to go ahead, the government said late Friday in a statement. No details regarding the conditions were provided.

5 days ago | bloomberg.com | Sonia Sirletti |Alessandra Migliaccio |Alberto Brambilla

UniCredit launched the unsolicited takeover bid late last year. (Bloomberg) -- The Italian government will allow UniCredit SpA’s takeover bid for Banco BPM SpA to move forward, provided some conditions are fulfilled.

1 week ago | bloomberg.com | Alessandra Migliaccio

Italian Marines during an amphibious assault excercise, above the Arctic Circle. (Bloomberg) -- Italy will likely be able to increase its defense spending to reach a NATO target of 2% of gross domestic product as early as this year, Finance Minister Giancarlo Giorgetti said. “We are more than aware, also in light of current tensions, of the need to increase such spending in the next few years,” Giorgetti told lawmakers during a parliamentary hearing in Rome on Thursday.

1 week ago | bloomberg.com | Alessandra Migliaccio |Sonia Sirletti

UniCredit launched the unsolicited takeover bid for Banco BPM SpA late last year. (Bloomberg) -- The Italian government is set to request conditions including constraints on UniCredit SpA’s Russia business in order to approve its takeover bid for Banco BPM SpA, according to people familiar with the matter.