Scepticism as SG-UniCredit tie-up rears its head — but also hope

Jean-Pierre Mustier UniCredit
By Jon Hay, Sam Kerr
04 Jun 2018

A report that UniCredit is considering a merger with Société Générale — which would create a powerful champion in European corporate debt — provoked strong feelings among capital markets specialists on Monday. The story appears to have taken UniCredit’s management by surprise, just after a bruising period for Italy in capital markets. But although some like the idea in principle and others scorn it, none believe a merger at some stage is impossible.

In a report, published on Sunday, the Financial Times asserted that UniCredit was exploring a possible merger with SocGen, to create a new European banking champion. The Italian bank has coldly declined to comment, saying only that its current business plan is based on organic growth, and ...

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