Ermotti Says EU Bank Deals Shouldn’t Fail Over National Interest

Europe’s banking market is in need of consolidation and narrow political preferences shouldn’t stand in the way, UBS Group AG Chief Executive Officer Sergio Ermotti said.

It would be a “very bad chapter for Europe” if a deal were to fail because of “national interest,” Ermotti said Wednesday on Bloomberg TV. He wasn’t commenting on specific situations, he said.

Banking M&A in Europe could get a boost as Italy-based UniCredit SpA is considering an acquisition of Germany’s Commerzbank AG. However, the German government has said it doesn’t want the potential transaction to go ahead. At ...