Rumors Circulating about UniCredit and SocGen Merger

[kreslik.news]

The FT and Bloomberg are reporting that Italian lender UniCredit is said to be exploring a merger with the third biggest bank in France, SocGen. After an initial spike higher, shares of UniCredit traded flat on the news.

As counterparts risks across the European financial system rise, M&A deals are starting to do the rounds. Last year, a prospective merger between UniCredit and Commerzbank didn’t yield a final deal.

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The rumours circulating in the media state that the French CEO of UniCredit, Jean Pierre Mustier is discussing a merger with SocGen, a ... (read more)