UNICREDIT, SOCGEN MULLING MERGER

Italy’s biggest bank UniCredit SpA is mulling a merger with Société Générale S.A. (SocGen), the second biggest bank in France, an FT report says. The tie-up could pave the path for similar mergers across the EU. Talks are at an early stage due to the political volatility in Italy although UniCredit’s French CEO Jean-Pierre Mustier, a former head of investment banking at SocGen, has been planning it for months.