UniCredit’s journey from foreign predator to domestic consolidator
Massimo Tononi, chair of Milan-based Banco BPM, received a call late on Sunday evening from an unexpected caller: Andrea Orcel, chief executive of its crosstown rival UniCredit. Orcel had picked up the phone to inform Tononi that UniCredit would announce an unsolicited €10.1bn takeover bid for his bank first thing on Monday morning. The surprise … Read more