Italy’s Intesa Sanpaolo took a further step on Thursday towards resolving antitrust hurdles as it prepares to launch an exchange offer to take over rival UBI Banca, a source familiar with the matter said.
The bid unveiled by Intesa in February to create the euro zone’s seventh-largest banking group has run into difficulty with Italy’s antitrust authority, which has expressed concerns that the tie-up would strengthen Intesa’s dominance in many areas.
The antitrust authority held a final hearing on the case on Thursday ahead of its verdict next month.
Full Content: Reuters
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