On Tuesday 2 May, the European Commission approved the sale of three bridge banks - Nuova Banca Marche, Nuova Banca Etruria and Nuova Carichietei - to the Union of Italian Banks (UBI Banca).
The European institution concluded that the process for the sale of the three banks, which was conducted by the Italian authorities, selected the best offer on the market. Additionally, UBI Banca's acquisition plan was found to comply with the European State aid rules, in particular the 2013...