Printer Friendly

-EC okays Credit Agricole's Italian acquisition.

M2 EQUITYBITES-November 11, 2010--EC okays Credit Agricole's Italian acquisition(C)2010 M2 COMMUNICATIONS http://www.m2.com

11 November 2010 - The European Commission (EC) gave Thursday the go-ahead to French Credit Agricole's (EPA:ACA) proposed acquisition of Italian Cassa di Risparmio della Spezia SpA and 96-branch network owned by Intesa Sanpaolo (BIT:ISP).

The sale of the branches and the small Italian bank, which is indirectly owned by Intesa, is not expected to distort competition in the European banking industry, the EC said today.

The competition watchdog considers that the deal would only cause insignificant overlaps in particular regions and provinces, as the French bank's current market share on the retail banking segment is relatively modest.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2010 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Nov 11, 2010
Words:127
Previous Article:-CRISIL gives D/P5 to Print Shop's bank facilities.
Next Article:-Japan's Niigata Prefecture series 1 domestic bonds get Aa2 from Moody's.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters