Mediobanca CEO Says Governments Are Hampering Bank Consolidation

Mediobanca SpA Chief Executive Officer Alberto Nagel said that national governments are an obstacle to creating bigger banks in the European Union.

“I don’t think it’s going to help the consolidation” of the financial industry in the bloc, Nagel said Friday on Bloomberg TV, referring to efforts to slow or even prevent banking takeovers in Germany, Italy and Spain. That level of obstruction is a “new factor,” he said.