For the complete report in the Canadian Business Online click on this link
European Union Presents Plan to Facilitate Cross Border Bank Mergers
The European Commission on Tuesday unveiled proposals designed to stop governments from trying to block cross-border bank takeovers.Under current European Union rules, national financial supervisory authorities can block proposed deals if they consider that the "sound and prudent management" of the target company could be put at risk.
The new legislation would narrow this criteria, the Commission said.
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