UniCredit will only set up a separate legal organization for its international operations if spreads between Italian and German government bonds are more than twice as wide as today, chief executive Jean Pierre Mustier tells Euromoney.
The CEO wants the sub-holding company to be ready in the event of a renewed spike in Italian sovereign risk, as “we like to be prepared”, he says.
Questions about the possible new structure have been growing since the Milanese group named former Italian finance minister Pier Carlo Padoan as its next chairman in October.
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