EU green light for Unicredit-Banco Bpm to sell 209 branches

The EU antitrust has approved the acquisition of Banco Bpm by UniCredit, subject to full compliance with the commitments undertaken. UniCredit has committed to divest 209 branches and for the EU the commitment fully resolves the competition concerns. According to the Commission, "the operation, as modified by the commitments, will no longer raise competition concerns in the deposit and lending markets, both for retail consumers and for SMEs", announces a note.

The Commission rejected the request of the Italian competition authority to refer the merger for its assessment.