After the financial crisis, dealmaking among banks in different countries in Europe fell to a standstill. But recently, Italian lender UniCredit revealed that it had built up a stake in Germany’s Commerzbank, prompting discussions of a possible tie-up. EU policymakers and politicians believe cross-border deals like this could unlock European banking and make it more competitive globally. So why is there resistance? The FT’s European banking correspondent Owen Walker explains.
Clips from Bloomberg, BBC
For further reading:
Andrea Orcel plots UniCredit’s boldest move yet on Commerzbank)
Andrea Orcel, Commerzbank and the redemption trade)
Europe’s most notorious banking dealmaker returns)
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Read a transcript of this episode on FT.com)
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