UniCredit has appealed to Italy's Council of State against a ruling that halted its acquisition of Banco BPM, the third-largest bank in Italy. Banco BPM rejected UniCredit's offer, citing undervaluation and potential job cuts. The Italian government invoked 'gold power' rules to impose conditions on the takeover, which has drawn EU scrutiny. The appeal is seen as a way for UniCredit to protect its reputation rather than escalate conflict with the government. The main issues involve UniCredit's operations in Russia and compliance with government regulations. Teljes cikk (Euronews.com)