The Italian Competition Authority conditionally clears a banking merger leading to a collective dominant position by imposing a set of structural and behavioural remedies (Intesa San Paolo-Banca Monte Parma)

The Italian Competition Authority (ICA) has conditionally authorized the Intesa San Paolo (ISP) acquisition of Banca Monte Parma (BMPR)by a second phase investigation decision [1] . The ICA imposed a set of remedies to fix the competition concerns arising from a dominant position between ISP and Crédit Agricole (CA) in several financial markets that the transaction might have otherwise created. I. The facts of the case and the ICA decision ISP acquired the control over BMP by purchasing the 51% of equity capital of the latter. Following the notification of the ISP acquisition of BMP, the ICA started a Second Phase investigation as it believed that the notified transaction would have negatively affected competition in

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  • Desogus Law Office (Cagliari)

Quotation

Michele Giannino, The Italian Competition Authority conditionally clears a banking merger leading to a collective dominant position by imposing a set of structural and behavioural remedies (Intesa San Paolo-Banca Monte Parma), 23 March 2011, e-Competitions Bulletin March 2011, Art. N° 35301

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