The Italian Competition Authority to consider remedies in a new banking merger (MPS / Antonveneta)

The Italian Antitrust Authority (the IAA) has recently opened a second-phase investigation in relation to the transaction through which Monte dei Paschi di Siena (MPS) will acquire Banca Antonveneta (Antonveneta). Antonveneta is the bank which in 2005/2006 was the subject of the hard-fought battle (at EU and national level, with criminal law implications) between ABN Amro and Banca Popolare Italiana, war that eventually led to the Bank of Italy's crisis with the consequent resignation of the then Governor of the same as well as with the parallel transfer of full antitrust powers from the Bank of Italy to the IAA. Antonveneta has been subsequently acquired by Banco Santander in the context of the hostile takeover over ABN Amro by a consortium comprising Banco Santander, The Royal Bank

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Authors

  • Freshfields Bruckhaus Deringer (Rome)
  • Johnson & Johnson (Roma)

Quotation

Gian Luca Zampa, Isidoro Niola, The Italian Competition Authority to consider remedies in a new banking merger (MPS / Antonveneta), 27 February 2008, e-Competitions February 2008, Art. N° 17627

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