Press Release: Mergers: Commission approves proposed Euro TLX SIM joint venture between UniCredit and Banca IMI

The European Commission cleared under the EU Merger Regulation the proposed joint venture between the Italian financial institutions Unicredit S.p.A. and Banca IMI S.p.A, a company of the Intesa San Paolo Group. The planned transaction would transform the existing joint venture TLX S.p.A. into a new full function joint venture Euro TLX Societa Intermediazione Mobiliare S.p.A (Euro TLX SIM). After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.