Shafaqna English- An internal document from the European Central Bank indicates that the institution is inclined to approve the acquisition of German Commerzbank by Italian UniCredit, with the latter aiming to establish itself as one of Europe’s banking giants through this transaction.
In this internal document, the ECB emphasizes that it sees “no reason to reject” the deal, though it cautions that the integration of the two banks is expected to be “difficult and time-consuming.” Simultaneously, German supervisory authorities are insisting on the development of a “risk mitigation plan” to foster consensus within Commerzbank and to solidify the regulatory framework and balance of power within UniCredit.
Source: Reuters