Banco BPM has rejected UniCredit's takeover bid, stating it undervalues the bank and does not reflect its profitability. Concerns were raised about potential job losses and reduced competition in the Italian banking sector due to UniCredit's expansion plans in Germany. The Italian government may intervene to block the bid, as it complicates plans for a major banking group involving Monte dei Paschi di Siena. Banco BPM is also pursuing its own acquisitions to diversify revenue. Teljes cikk (Euronews.com)