In the Venetian Banks case [1], the Italian Competition Authority (ICA) gave an unconditional go-ahead to a rescue banking merger. By this merger operation, a major Italian bank, Intesa Sanpaolo (ISP) would take over the banking activities of two regional ailing banks, Banca Popolare di Vicenza (BPV) and Veneto Banca (VB). According to the ICA, the ISP acquisition of BPV and VB would not threaten competition considering that, amongst other things, the targets are ailing firms with declining market shares over the past years. The planned merger operation BPV and VB operate mainly in North-eastern Italy and are since long on the brink of bankruptcy. Replying to an invitation from the Minister of Economy and Finance (MEF), on 21 June 2017 ISP manifested its interest in purchasing BPV
Share on
|
|
The Italian Competition Authority unconditionally approves a rescue banking merger (Venetian Banks)
Access to this article is restricted to subscribers
Already Subscribed? Sign-in
Access to this article is restricted to subscribers.
Read one article for free
Sign-up to read this article for free and discover our services.
