Italy's Monte dei Paschi is focused on its takeover offer for Mediobanca , its chief executive said on Thursday, adding further deals would be something the state-backed bank could consider only in the future.

In withdrawing, UniCredit cited complaints related to the golden power provision that allows the Italian government to impose conditions on corporate transactions.

Italy is working on a new decree which is set to reimpose most of its conditions for UniCredit SpA’s planned takeover of Banco BPM SpA, underscoring Rome’s continued resistance to the bid.