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Tuesday, September 17th, 2019

Written question – Merger between BNP Paribas and BNP Wealth Management – E-002468/2017

by April 26, 2017 General

Is the Commission aware of the fact that the merger between BNP Paribas and BNP Wealth Management in 2016 (requiring an approval from the Singaporean authorities pursuant to the merger agreement, on the basis of which the European Central Bank approved the merger) is being legally challenged in the USA and Singapore (see annex), and is to be deemed null and void in consequence of the admission of BNP that it did not obtain the respective licences from the relevant authorities, as required under the merger agreement?

Is the Commission planning to take any action?