1218 GMT - UniCredit's takeover of Banco BPM should face less regulatory scrutiny than other similar deals because of the limited overlap between the two banks, ING analyst Suvi Platerink Kosonen writes. UniCredit said that it plans to keep BPM's branch network and clients broadly the same after the takeover, Kosonen says. UniCredit also said that after a deal, there would be a risk of market dominance in only 10% of Italian provinces. UniCredit also considers the two franchises to be highly complementary, Kosonen adds. The deal is a good fit for UniCredit, the analyst says. However, the transaction will eat into UniCredit's excess capital buffers, which ING regards as one of its core strengths. UniCredit shares trade down 4.4% at 36.43 euros, while Banco BPM shares trade up 1.6% at 6.75 euros. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
November 25, 2024 07:18 ET (12:18 GMT)
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