UniCredit receives ECB and Bank of Italy approvals for Banco BPM bid; China to inject $72bn into big four banks

UniCredit has received regulatory clearance from both the European Central Bank and the Bank of Italy for its proposed acquisition of smaller rival Banco BPM, the bank said in a statement on Friday. 

These approvals clear the way for Italy’s market regulator, Consob, to finalise its review of the offer document, which UniCredit expects to be approved in the coming days.