French bank merger cleared

The French company Newedge Group S.A.'s takeover by another French bank, Société Générale S.A., was authorised by the European Commission, on 17 March. Newedge is currently jointly controlled by Société Générale and Crédit Agricole Corporate and Investment Banking. It specialises in brokerage and clearing services across a broad range of listed and bilaterally traded derivatives and securities in the European Economic Area (EEA), North America and Asia. The Commission believes that the overlaps between the two parties' activities are limited,…