In a notice filed to the Bulgarian Stock Exchange, First Investment Bank announced an agreement to acquire smaller rival MKB Unionbank, a move that allows MKB Bank to conform to agreements made with the European Commission. MKB Bank confirmed the news to the Bulgarian Stock Exchange and stated that the Bulgarian unit was “a successful company on a perspective market,” but the sale meet concessions agreed upon when the Commission cleared the bank’s restructuring plan. Under the agreement, cleared last year, the bank would sell the majority of its foreign subsidiaries and repay state aid. The deal in Bulgaria remains subject to regulatory approval by the Commission for Protection of Competition as well as the Bulgarian National Bank.
Full Content: Sofia Globe
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI