Word: unicredito
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Dates: during 2000-2009
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...France worth at least $7 billion. That's modest compared with the year's biggest deals: the $28 billion acquisition last June by Telecom Italia of the 44% stake in mobile phone company Telecom Italia Mobile it didn't already own, and the $22 billion purchase by Italian bank UniCredito of Germany's Bayerische HypoVereinsbank. Other major deals included Pernod Ricard's acquisition of British drinks firm Allied Domecq, and a continuing three-way fight for control of that bastion of shareholder capitalism, the London Stock Exchange. According to Morgan Stanley, the number of deals last year with a volume...
...demonstrates how many barriers remain to such transnational deals. Santander had already been blocked from taking over France's Société Générale in 1999 because the bid came from abroad. When Spain's Banco Bilbao Vizcaya Argentaria tried to merge with Italy's UniCredito Italiano the same year, Italy's regulator, too, balked at the idea of an Italian bank falling into foreign hands. In Abbey's case, U.K. competition regulations may have given Santander the edge...
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