The Italian Antitrust Authority opens a new Phase II review in the banking sector (Banche Popolari Unite-Banca Lombarda e Piemontese)

Following the change of competences occurred in 2006, which granted to the Italian Antitrust Authority (IAA) full jurisdiction over the banking sector, the Italian competition watchdog continues to strictly scrutinize the consolidation process affecting financial and credit institutions in Italy. On 22 January 2007, Banche Popolari Unite S.c.p.a. (BPU) and Banca Lombarda e Piemontese S.p.A. (BLP) submitted to the IAA the proposed merger by incorporation of BPU into BLP (the Merger). The resulting entity would be one of the Italy's leading banking groups structured as cooperative bank (banca popolare cooperativa). Both BLP and BPU are listed on the Italian Stock Exchange (MTA Borsa Italiana's electronic market) and are active, mainly in the North of Italy, in several financial

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Authors

  • Freshfields Bruckhaus Deringer (Rome)
  • WilmerHale (Brussels)

Quotation

Gian Luca Zampa, Roberto Grasso, The Italian Antitrust Authority opens a new Phase II review in the banking sector (Banche Popolari Unite-Banca Lombarda e Piemontese), 6 February 2007, e-Competitions Bulletin February 2007, Art. N° 13400

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