Facing its first newsworthy merger since the Law of Modernization of the Economy came into force [1], the French National Competition Authority (NCA) cleared in Phase I a merger in the banking sector between Groupe Banque Populaire and Groupe Caisse d'Epargne after having (i) laid down stringent criteria to identify potentially harmful increases of market power at the local level relying on thresholds of aggregate market shares held by both banking groups within a department, for the corporate banking market, and within a radius representing a distance covered by car in twenty minutes, for the retail banking market, and (ii) accepted behavioral remedies aiming at ensuring that local conditions of competition in the Réunion island will be preserved, including the commitment to maintain
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The French Competition Authority conditionally clears in phase I a merger in the banking sector (Banque Populaire / Caisse d’Epargne)
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