Mergers

• European governments in Berlin and Rome initially attempted to block cross-border bank mergers, specifically targeting UniCredit's efforts to acquire Commerzbank. • The European Commission issued a 56-page preliminary opinion arguing that national security justifications were insufficient and breached EU rules on the free movement of capital. • In response to regulatory pressure, Italy rewrote its laws for January 2026 to subordinate "Golden Power" reviews to prior decisions made by the ECB and the Commission.

• Political analysts are evaluating the landscape for Israel's 2026 elections, noting that major blocs are currently separated by only a few seats in most polls. • The outcome may depend less on shifts between Benjamin Netanyahu's Likud and Gadi Eisenkot's Yashar, and more on which smaller parties can surpass the 3.25% electoral threshold. • Internal tensions are rising as United Torah Judaism’s Moshe Gafni demands concrete action on Torah-study legislation, while figures like Edelstein, Illouz, and Haskel have broken with the government over draft policies.

• Sky has pledged to spend £2 billion as it prepares to acquire ITV's broadcasting arm, with a formal announcement expected in July. • The investment is designed to place the business on a solid financial footing and ensure the stability of the acquired assets. • This move is critical for safeguarding the future of high-profile programming, including Love Island, I’m a Celebrity, and soaps like Coronation Street and Emmerdale.