Brussels, June 19 (LaPresse) – Brussels has given the green light to Unicredit’s acquisition of Banco BPM, but with conditions. The European Commission approved the operation, which will create a banking giant with over €1.2 trillion in assets, but required Unicredit to divest 209 branches to prevent excessive market concentration in specific areas of the country.
According to the EU antitrust authority, the merger could have reduced competition in local lending and deposit markets, affecting both retail customers and SMEs, in 181 areas where the two banks currently operate. The corrective measures — agreed with Brussels and overseen by an independent trustee — aim to neutralize the risk of price increases and weakened competition.
No concerns were raised at the regional or national level: the European investigation concluded that the Italian market remains sufficiently fragmented and competitive, with no risk of collusion among operators. Notably, an institutional standoff also emerged: the Commission rejected a request by the Italian Antitrust Authority to handle the review nationally, asserting its jurisdiction and claiming it is “in the best position” to assess the operation's impact on a European scale, particularly in view of building a Capital Markets Union.
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