UniCredit posts surprise profit jump, ups guidance after dropping Banco BPM bid
UniCredit (CRDI.MI), opens new tab late on Tuesday said it was withdrawing the offer, blaming government meddling for altering the process and depriving Banco BPM shareholders, as well as Italy's economy, of a good opportunity.
UniCredit said net profit in the three months through June totalled 2.9 billion euros net of one-off items and 3.3 billion euros when including those. That is well above a 2.5 billion euro ($2.9 billion) forecast in a company-gathered analyst consensus, and up from 2.7 billion euros a year ago.
UniCredit forecast a net profit in the full year of around 10.5 billion euros, improving on a previous guidance for a net profit above 9.3 billion euros.
($1 = 0.8522 euros)
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