UniCredit SpA informs that it has recently submitted a request to supplement its Registration Document and Base Prospectus regarding its programme for the issuance of investment certificates which has been approved today by CONSOB.
Upon request of CONSOB, the Bank informs that the Supplement includes the following information regarding the risks related to a proceeding promoted by the European Commission:
"On 31 January 2019 UniCredit received a Statement of Objections from the European Commission referring to the investigation by the European Commission of a suspected violation of antitrust rules in relation to European government bonds. The subject matter of the investigation extends to certain periods from 2007 to 2012, and includes alleged activities by one of UniCredit's subsidiaries in a part of this period.
The Statement of Objections does not prejudge the outcome of the proceeding; should the Commission conclude that there is sufficient evidence of an infringement, a decision prohibiting the conduct and imposing a fine could be adopted, with any fine subject to a statutory maximum of 10% of the company's annual worldwide turnover.
UniCredit had access to the entirety of the European Commission's file on the investigation from 15 February 2019 onwards. As a result of the assessment of the files, the Bank regards it no longer remote but possible, even though not likely, that a cash outflow might be required to fulfill a potential fine arising from the outcome of the investigation. On the basis of the current information, it is not possible to reliably estimate the amount of any potential fine at the date of the Supplement.
The deadline for UniCredit's response to the raised objections has been set for 29 April and is subject to possible extensions at the Commission's discretion. Following any response to Statements of objections the European Commission can grant the parties the opportunity of an hearing. At this time it cannot be assessed whether and when an hearing will take place. There is no legal deadline for the Commission to complete antitrust inquiries."
Milan, April 10, 2019
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