The European leaders’ agreement on a massive stimulus plan for their coronavirus battered economies should help kick-start cross-border consolidation in Europe and complete the European banking union, Santander Chairman Ana Botin said.
“What was agreed yesterday (in the early hours of Tuesday) means the opportunity and the probability that we do get a banking union and cross-border consolidation is much higher,” Botin told Reuters.
“It will require changes, but I think those changes are much more likely today than they were yesterday,” Botin said.
Santander is the Euro zone’s second-biggest lender in terms of market value.
Remarks by Botin echoed comments from European Central Bank vice-president Luis de Guindos, who on Monday, July 20, said that he expected banks to engage in both national and cross-border consolidation within weeks or months.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DirecTV and Disney Resolve Dispute, Restore Programming for Subscribers
Sep 15, 2024 by
CPI
UK Antitrust Authority Raises Concerns Over Vodafone-Three Merger
Sep 15, 2024 by
CPI
Brazilian Supreme Court Lifts Freeze on Starlink Accounts, Transfers $3.3 Million to National Treasury
Sep 15, 2024 by
CPI
Steptoe Expands Antitrust Practice with Key London Hire
Sep 15, 2024 by
CPI
Instant Ad Auctions at the Heart of Google’s Federal Monopoly Case
Sep 15, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández