UniCredit’s $15.19B bid for Banco BPM approved by ECB

UniCredit (OTCPK:UNCFF)(OTCPK:UNCRY) said late Friday that the European Central Bank has approved its €14B ($15.19B) all-share bid for Banco BPM (OTCPK:BNCZF).

Italy’s second-largest bank said in a statement that its board on Sunday would vote to issue shares to fund