Italy urges banks to be buyers in M and A wave
Italian Economy Minister Giancarlo Giorgetti stated that domestic lenders should act as buyers rather than targets during the current European banking consolidation. Speaking at international meetings, he welcomed approval for UniCredit and Commerzbank.
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Italy Economy Minister Giancarlo Giorgetti said Friday that domestic lenders should act as acquirers rather than takeover targets amid an ongoing cross-border M&A wave in Germany and Southern Europe. Speaking from Thailand during G7 and G20 events, Giorgetti backed expansion moves while demanding lenders preserve domestic headquarters. The remarks arrive as UNICREDIT SPA advances a €45 billion ($51 billion) transaction for COMMERZBANK AG following regulatory clearance.
