From CNBC: 2024-09-26 03:41:51

France’s BNP Paribas calls for more European banking consolidation to compete with U.S. and Asia. UniCredit seeks to become largest investor in Germany’s Commerzbank. German Chancellor opposes UniCredit’s takeover attempt, accusing it of being “unfriendly” and “hostile.” BBVA’s hostile bid for Banco Sabadell facing opposition from Spanish authorities.

BNP Paribas supports domestic consolidation in Europe’s banking sector, but cross-border mergers face challenges due to differing systems. BBVA’s hostile takeover of Banco Sabadell unlikely to succeed, with Spanish authorities opposing the bid. BBVA CEO remains optimistic about the takeover progress, despite opposition from regulators.

Read more: France’s BNP Paribas says there are too many European banks