Bad news!
Unfortunately, the acquisition of the German state-owned Commerzbank has become a matter of national parochialism for Germany and Chancellor Scholz. See also my related blog post here.
"It is a deal that Europe has wanted for a generation: two big banks combining forces across borders, uniting economies and unleashing growth that has long eluded the region. Instead, Italian banker Andrea Orcel’s surprise attempt to combine his UniCredit with Germany’s Commerzbank has turned into a case study on what holds Europe back from keeping pace with the U.S. in economic heft."
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