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Italy’s Intesa Begins Solving Antitrust Issues In UBI Deal

By  |  June 18, 2020

Italy’s Intesa Sanpaolo took a further step on Thursday towards resolving antitrust hurdles as it prepares to launch an exchange offer to take over rival UBI Banca, a source familiar with the matter said.

The bid unveiled by Intesa in February to create the euro zone’s seventh-largest banking group has run into difficulty with Italy’s antitrust authority, which has expressed concerns that the tie-up would strengthen Intesa’s dominance in many areas. 

The antitrust authority held a final hearing on the case on Thursday ahead of its verdict next month.

Full Content: Reuters

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