BANKS: NEW INVESTIGATION INTO ACQUISITION OF CASSA DI FIRENZE BY INTESA-SAN PAOLO
PRESS RELEASE
PRESS RELEASE
BANKS: ANTITRUST AUTHORITY LAUNCHES INVESTIGATION INTO INTESA-SAN PAOLO'S ACQUISITION OF CASSA DI FIRENZE
The takeover could lead to competition problems in various markets
The Italian Competition Authority, at its meeting on 29 November 2007, decided to open an investigation into the purchase of Cassa di Risparmio di Firenze by Intesa-San Paolo.
The investigation must determine whether the merger risks creating or reinforcing a dominant position in a number of important markets. These are deposit-taking, loans to families of consumers, loans to family and small-medium businesses, consumer credit, credit cards, sale of investment funds, individual wealth management and sale of life insurance.
The investigation is to be concluded by 12 February 2008
Rome, 29 November 2008