Written by Francesco Kaiba
LONDON (Reuters) – The European Central Bank is about to give Unicredit in Italy the green light to build its share in its German rival commerzbank, a person familiar with Reuters, a step that can pave the way for the largest border across Europe the banking deal since the global financial crisis.
The source said that the European Central Bank employees are likely to complete their analysis to purchase the unicredit by 29.9 % of COMMERZBANK by early March, which represents the stage for approval by the regulator’s supervisory council later in the month.
The source added that the last briefing of the European Central Bank supervising experts, which included various scenarios for assessing banks’ solidity, was positive.
The European Central Bank spokesman declined to comment.
The CEO of Unicredit Andrea Orzel, the heavy production maker, shocked the institutional and political institution in Germany by capturing shares in Commerzbank in September.
He continued to build the Holding in the face of the German opposition on a large scale while pressing a full association.
Log in from the European Central Bank of Unicredit to own shyly from 30 % in Commerzbank would remove a major organizational obstacle.
(Participated in the reports of Francesco Kaiba. Al -Tahrir by: Elisa Martinosi and John Odonel)
https://media.zenfs.com/en/reuters-finance.com/444250b26fec94eb815abfb5c8048813
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