ADVERTISEMENT

Bank of Italy chief sees more room for banking mergers

Analysis

Bank of Italy Governor Mario Draghi said there is more room for banking mergers in the country and that he favors alliances between European stock exchanges. „It's a good idea for the process of consolidation in the banking sector to start up again,” Draghi said in a speech at a banking association meeting in Rome today. „There is still ample room for mergers where the synergies overtake the complexities.” Draghi is ushering in an anti-protectionist, free-market era at the Bank of Italy after replacing Antonio Fazio, who quit in December amid two criminal probes into his efforts to block foreign bids for Italian banks. Draghi, a former vice chairman of Goldman Sachs Group Inc., has the power to approve or block mergers involving Italian banks. The governor also said he favors efforts to link European stock exchanges. Borsa Italiana SpA, the Italian exchange, is considering possible alliances with Euronext NV and Deutsche Boerse AG. Euronext last month agreed to an € 8.1 billion ($10.3 billion) takeover offer from NYSE Group Inc., thwarting a bid from Deutsche Boerse. „Mergers between European stock exchanges are key to the integration of the markets,” Draghi said. (Bloomberg)
Number of Doctors per 10,000 Inhabitants Reaches 44 Figures

Number of Doctors per 10,000 Inhabitants Reaches 44

Karácsony Declared Winner in Budapest Mayoral Race After Rec... Elections

Karácsony Declared Winner in Budapest Mayoral Race After Rec...

Kecskeméti Konzerv Sold With Legal Support From Wolf Theiss Deals

Kecskeméti Konzerv Sold With Legal Support From Wolf Theiss

White Party at The Duchess Coming This Weekend Drinks

White Party at The Duchess Coming This Weekend

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.