UniCredit Bank and Societe Generale considering a merger?

Italy’s UniCredit and France's Societe Generale are considering a merger, which would lead to an integration of the two biggest financial institutions in Europe, the Financial Times reports.

Jean-Pierre Mustier, the French chief executive of UniCredit, has been pioneering the idea for several months, FT writes, citing unnamed sources close to the situation.

The management of Societe Generale is also considering the possibility of a merger.

However, negotiations are still in the early stages, whereas Italy's political turbulence might pose a new challenge in the realization of these plans.

UniCredit said for Bloomberg that it never comments on rumors and speculation, whereas Societe Generale denied “any board discussion regarding a potential merger with UniCredit.”

Mustier told Bloomberg News in September that UniCredit had no major disposals or acquisitions in sight through 2019.

Milan-based UniCredit, Italy’s largest bank by assets, last year considered a potential merger with Germany’s Commerzbank AG.

UniCredit Group Milano

Societe Generale

Societe Generale

SocGen

Jean Pierre Mustier

Commerzbank AG

merger of UniCredit and Societe Generale

merger of banks

bank merger

integration of banks

UniCredit