This activity has been buoyant in Europe, judging from the number of deals and the volume, and also in terms of cross-border transactions. 3 Over 800 M&As have taken place in the past ten years, and their total value is put at € billion. Italy alone has seen 200 such deals, with a total value of € billion.
All in all, the push towards consolidation in the banking sector has been substantial. 1  The views expressed reflect only those of the author. I thank J.-L. Peydró-Alcalde for his input into the preparation of these remarks. 2  ECB calculations. 3  ECB calculations.