UniCredit offered to buy the second largest Italian bank Banco BPM for €10bn in late November last year. The acquisition was a counter offer of UniCredit after BPM bid to buy Anima for €1bn to boost its asset management fee income amid falling interest rates.

Source: https://www.euronews.com/business/2025/02/18/unicredit-threatens-to-drop-banco-bmp-takeover-offer