An unusually high level of M&A activity in politically-sensitive, highly-regulated sectors in Italy has revived the debate at national and European level on a number of delicate issues for the country. Italy seems to have responded well to these bids, creating the conditions for a flow of significant deals, both inbound and outbound. While that process is certainly not over yet, domestic consolidation may lay the foundations for further cross-border deal flow in the not-too-distant future. The role of the European Commission (EC) will be key in this process.
This shift has been most visible in the Italian banking sector, which has recently seen an unprecedented wave of transactions, both cross-border and domestic, which has changed and is still changing the industry landscape.
