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NEWS: UniCredit takeover of BPM blocked over Russia AML worries

FILE PHOTO: The headquarters of UniCredit bank in Milan, Italy, February 8, 2016. REUTERS/Stefano Rellandini/File Photo

By PAUL O’DONOGHUE, Senior Correspondent

THE Italian government has blocked UniCredit’s proposed takeover move for Banco BPM, citing AML worries linked to Russia.

UniCredit said it could not proceed with its planned deal because the state had imposed conditions on the transaction.

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