UniCredit Disagree with Expected M&A Growth
(21 July 2020 – Europe) UniCredit’s CEO, Jean-Pierre Mustier, has expressed scepticism towards any expected increase in Merger and Acquisition (M&A) activity following the COVID-19 pandemic.
Mr Mustier made clear that UniCredit would not be focused on M&A because of the lack of clarity around the consolidation of European banking. The banking industry has been confronted with significant losses due to business’ inability to meet repayments. As a result, regulators have been more favourable towards M&A to boost economic productivity and growth. However, Mustier argues that the economic impact of the coronavirus pandemic is still unclear, and this could affect M&A activity in the near future.
“I’m not sure COVID-19 will speed up domestic or cross border M&A” commented UniCredit CEO, Jean-Pierre Mustier. “We’ve said and we’ve been very clear no M&A at UniCredit” he added.
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