The Profumo affair

The merger of Italy’s UniCredit, led by Alessandro Profumo, and Capitalia, creating the largest banking group in the eurozone, has left the likes of Barclays and RBS floundering in its wake, says Helen Dunne

Business Focus Italian Banks

he board of ABN Amro must have been kicking their clogs in frustration as they watched Italy’s UniCredit announce and agree a takeover of Capitalia, a smaller domestic rival, for nearly €22bn (£15bn, $29.6bn) in just two weeks. To the great surprise of...

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