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we have seen France block Italian takeovers, Italy block Dutch banking takeovers, Spain block German energy bids and Poland block Italian financial service bids

Let's see:

  • the purchase of HVB by Unicredito had the effect of merging their two big Polish affiliates and create the biggest Polish bank. After some negotiations, and small concessions by Unicredito, this is now actually taking place;

  • the takeover bid of Endesa by E.On is under way. No formal steps have been taken by Spain

  • the takeover of Antonoveneto by ABN-Amro has now been completed, and in the meantime BNL has been purchased by BNP-Paribas

  • there never was an "Italian takeover" in France, as ENEL never made an offer on Suez (which is half Belgian anyway, and it was only the Belgian assets - in the power industry - that interested ENEL anyway). And the EU cleared France for actign properly in pushing the marger of Suez and GDF.

So what is he talking about?

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Tue Jun 6th, 2006 at 03:45:15 AM EST
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