EC Mulls Italian Review Of €21.8B Bank Merger

Law360, New York (June 7, 2007, 12:00 AM EDT) -- Leading Italian banks Capitalia SpA and UniCredito Italiano SpA have asked that their €21.8 billion merger be reviewed by the national competition regulators instead of the European Commission.

The Commission has until July 10 to decide on the banks' request, an EC spokesperson said on Thursday. A spokesperson for the banks declined to comment.

The banks would likely prefer a review by the Italian Competition Authority because the regulator is more familiar with the country's banking market, said Massimo Trentino, a corporate development attorney in McDermott,...
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