Europe's antitrust chief Teresa Ribera called on EU governments to support cross-border bank mergers, saying they are urgently needed to complete the single market. Her remarks came a day after Germany rejected Italian bank UniCredit's offer for shares in Germany's Commerzbank, citing price and what it called an aggressive approach. Ribera criticized countries that speak in favor of pan-European champions but do not support the steps required, and stressed that Europe cannot argue it needs globally competitive firms while refusing to examine whether its analytical frameworks reflect global competition and investment needs. The push for cross-border banking consolidation is linked to the bloc's need for multi-trillion-euro funding for green and digital projects, though plans for a full banking union remain stuck over the lack of a common deposit guarantee scheme.
Commerzbank AGEU antitrust chief urges support for cross-border bank mergers, which could facilitate a takeover of Commerzbank by UniCredit.
UniCredit SpAEU antitrust chief urges support for cross-border bank mergers, backing UniCredit's bid for Commerzbank shares despite German opposition.