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The European Commission has unconditionally approved, in accordance with the EU merger regulation, the fusion Between Swiss credit e UBShaving established that the transaction does not raise competition concerns in the European Economic Area (EEA).
In particular, the merger resulting from the operation it will not significantly reduce competition in markets where the activities of the two banks overlap within the EEA.
The Commission, reads a note, “found that the entity resulting from the merger will continue to face significant competitive pressure from a wide range of competitors in all of these markets, including several major global banks, as well as specialist suppliers and strong local players.” (Ticker)