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And in the case of UniCredito, it is already making inroads towards a cross-border combination with Spain's BBV, which itself just combined with Argentaria.
It was never going to be a sure bet, given the complexities of the two companies' operations and the political sensitivities that are almost always stirred by the prospect of a cross-border combination of high-flying industrial champions.
The state-controlled Telenor of Norway said it was in early talks to buy 42percentt of TDC of Denmark, formerly TeleDanmark, possibly foreshadowing a $16 billion merger that could yield the first cross-border combination of Europe's former state telecommunications monopolies.
Mr. Fourtou, 63, is best known as the former leader of Rhône-Poulenc, the French pharmaceutical company that merged with Hoechst of Germany in 1999 to form Aventis, in what was seen as an ambitious and trailblazing cross-border combination in Europe.
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And there are fewer obstacles to cross-border combinations today.
Driving these big cross-border combinations, lawyers at these firms say, are the firms' clients.
Analysts were quick to trot out other possible cross-border combinations: British Airways reviving its bid for KLM and possibly adding Iberia of Spain; Lufthansa acquiring Scandinavian Airlines System and Austrian Airlines and Air Francee bailing out Alitalia.
The deal is one of the largest cross-border European banking combinations to date, and Credit Commercial is the first large French retail bank to fall into foreign control.
One result has been a free-for-all that looks less like the 1994 genocide in Rwanda, to which the Darfur conflict has often been compared, and more like a grim combination of the cross-border war that engulfed Congo and its neighbors in the wake of Rwanda's agony and the warlord-ruled chaos of Somalia.
One of Europe's few truly cross-border banks, a Danish-Finnish-Norwegian-Swedish combination called Nordea, is widely considered to have fared poorly.
Analysts blame the violence on a combination of Islamist-inspired separatism, cross-border banditry and turf wars between the police and military.
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