The pieces are falling into place for one of Europe’s most closely watched cross-border banking deals. The European Central Bank is expected to approve UniCredit’s acquisition of Commerzbank, according to a Handelsblatt report, though supervisors have cautioned that the subsequent integration will prove both “challenging and lengthy.” That warning underscores the gap between market enthusiasm for the deal and the operational realities that lie ahead.
Commerzbank’s first-half net profit of €1.8 billion — a record…
