Italy’s UniCredit exploring merger with French rival SocGen

Italy’s UniCredit exploring merger with French rival SocGen

Italy’s biggest bank, UniCredit SpA is exploring a merger with France’s Societe Generale SA in a move that would see the European banks leading the way for banking mergers on the continent, the FT said on Sunday. UniCredit’s French chief executive, Jean-Pierre Mustier, a former head of SocGen’s investment banking unit, has been developing the idea for several months now, the FT said, citing sources. Although no formal approach has been made, SocGen directors have…

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