-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.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Nov 11, 2010|
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