The European Central Bank (ECB) is leaning toward approving UniCredit’s acquisition of Commerzbank following preliminary assessments. An internal ECB document indicates no fundamental grounds for opposition exist despite an expected complex integration.
Germany’s financial regulator, BaFin, issued criticisms that officials deemed insufficient to block the transaction. This preliminary support removes a primary regulatory hurdle for one of Europe’s largest banking mergers.
UniCredit shares rose over 1% following the reports. A final review and decision are scheduled for September or October.