Big Bank Deals in Europe Face Familiar Foe as Governments Meddle
The European Union has long decried the small size of its banks. But the national governments of its member states are again emerging as the main stumbling block to some of the region's most ambitious deals.
Spain is considering whether to intervene in the takeover of Banco Sabadell SA by BBVA SA, while the Italian government is seeking to obstruct the purchase of Banco BPM SpA by UniCredit SpA. In Berlin, the new administration — like the old one before it — wants Commerzbank AG to remain independent and German, rather than be bought by UniCredit.
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