Intesa-Ubi, Antitrust: “Merger in the unauthorized state, strengthens dominant position”

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The fusion of Intesa Sanpaolo is Ubi would help strengthen the dominant position of the country’s first bank “in numerous markets”, without the agreement for the sale of a business branch to Bper “Can be considered as an intervention aimed at resolve critical issues competitive. ” So theAntitrust, in the communication of the preliminary findings to the parties viewed by theHandle, explains why he believes that the concentration “is not at the state of the acts susceptible to be authorized“.

Less than a month after starting the investigation, the Competition and Market Authority is currently rejecting the merger between Intesa and Ubi. The public exchange offer with which Intesa Sanpaolo intends to acquire Ubi Banca it was launched on 17 February: every 10 Ubi shares are offered 17 of newly issued Intesa Sanpaolo, thus enhancing the Bergamo group 4.86 billion. In case of success of the takeover bid, precisely to avoid antitrust disputes, it is envisaged that Bper will acquire 400-500 branches with 1.2 million customers e UnipolSai will take over the business units of the insurance companies Bancassurance Popolari, Lombarda Vita and Aviva Vita in which Ubi holds a stake.

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