Deals
UniCredit Pushes for Merger With SocGen, FT Reports
- Talks are reportedly in early stages and face big hurdles
- Consolidation among Europe’s big banks has been a hot topic
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Italian bank UniCredit SpA is considering a merger with France’s Societe Generale SA, a move that would combine two of Europe’s largest financial institutions, the Financial Times reported Sunday.
UniCredit Chief Executive Officer Jean Pierre Mustier, who is French and once worked for SocGen, has been developing the idea for several months, the FT said, citing people close to the situation. SocGen directors have also been studying the possibility of a tie-up, the FT said.