The Italian Competition Authority conditionally clears a merger in the banking sector (Banche Popolari Unite/Banca Lombarda e Piemontese)

The operation Banche Popolari Unite (UBI) will absorb Banca Lombarda e Piemontese, which will cease to exist as a legal entity, after the companies met the ICA's concerns about reduced competition in two Provinces and the conflicting roles with Intesa Sanpaolo, one of the major Italian banking groups. Banche Popolari Unite and Banca Lombarda e Piemontese are two banking groups based in Italy, after the merger BPU will be the major Italian folk cooperative bank The market(s) Retail banking, mutual funds, management

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Eleonora Granata, Alessandra Prastaro, The Italian Competition Authority conditionally clears a merger in the banking sector (Banche Popolari Unite/Banca Lombarda e Piemontese), 12 April 2007, e-Competitions Bulletin February 2007, Art. N° 21170

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