The Italian Competition Authority conditionally approves a banking merger upon a divestiture remedy (BPER / Unipol Banca)

In the BPER/Unipol Banca case the Italian Competition Authority (ICA) has conditionally authorized the acquisition of Unipol Banca Spa (UP) by BPER Banca Spa (BPER) [1] . The ICA took the view that the proposed merger might restrain competition in many banking markets in the region of Sardinia where BPER had a strong foothold. To restore the competition structure of the relevant markets as before the merger, the ICA required BPER to divest a number of its bank branches located in Sardinia. The ICA assessment of the merger BPER is a national Italian bank with a leading position in the banking markets in the island of Sardinia. Here, pre-merger BPER had already a strong territorial entrenchment, owning about 55% the bank branches in this region. In fact, BPER owns a widespread network

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  • Desogus Law Office (Cagliari)

Quotation

Michele Giannino, The Italian Competition Authority conditionally approves a banking merger upon a divestiture remedy (BPER / Unipol Banca), 17 July 2019, e-Competitions Bulletin August 2019, Art. N° 91326

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