UniCredit to seek ECB approval to potentially buy up to 30% of Commerzbank, sources say
UniCredit will seek ECB clearance to potentially buy up to 30% of Commerzbank, three people close to the matter said, in order to have the "flexibility" the Italian bank's CEO Andrea Orcel said he needs to plan his next move.
In Depth
Explainer: ECB's role in any UniCredit and Commerzbank combination
UniCredit, Italy's second-largest bank, has taken a 9% stake in Germany's Commerzbank and is seeking permission to potentially raise this to 29.9%, sources told Reuters, while saying it would be open to a full takeover bid.
For decades, Andrea Orcel was the 'rainmaker' who CEOs turned to for advice on the big deals that reshaped the banking ...
Commerzbank AG’s labor representatives are “bitterly determined” to prevent a merger with Italian rival UniCredit SpA, warning that two-thirds of the jobs at the German lender could be cut in a ...
Commerzbank AG Chief Executive Officer Manfred Knof said he’ll study any proposals coming from UniCredit AG after the Italian ...
Analysts have welcomed the move by UniCredit, particularly because a tie-up between the two banks might spur more M&A ...
FRANKFURT (Reuters) -Commerzbank is poised to put CFO Bettina Orlopp in charge of talks with UniCredit when the German bank's ...
UniCredit SpA has demonstrated at its existing German unit that it can cut costs in the country, which bodes well for its ...
UniCredit was able to buy 4.5% of Commerzbank from the German state because the government trusts the Italian bank, its CEO ...
Illiquid secondary levels make determining fair value tricky ◆ No impact from UniCredit-Commerzbank merger rumours ...
If UniCredit is close to acquiring Commerzbank, it’s not just the result of a quick and crafty deal in the equities market.
A German bank staff union on Thursday called on Berlin to prevent UniCredit from buying Commerzbank , warning of massive job ...
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