Find any stock by ticker or company name
Barcha huquqlar himoyalangan.
96.81
0.00 (0.00%)
Germany's tilt towards a deal with UniCredit's CEO Andrea Orcel to take over Commerzbank, after years of his manoeuvring, could prompt other European nations and banks to warm to further banking consolidation.
For nearly two years, UniCredit CEO Andrea Orcel has pursued Commerzbank despite public opposition from Berlin. Now, as he prepares for what could be a pivotal encounter with Germany's finance minister, the balance of power in the takeover battle appears to have shifted in his favour.
Commerzbank's supervisory board chair, Jens Weidmann, has called for a review of Germany's takeover rules, saying UniCredit was able to secure control of the lender without offering shareholders an adequate premium, a newspaper reported on Sunday.
The ECB is leaning towards approving UniCredit's takeover of Germany's Commerzbank , an internal document detailing its preliminary view of the Italian bank's attempt to create one of Europe's largest lenders shows.
The CEOs of UniCredit and Commerzbank briefly met on the sidelines of a private event after the Italian bank secured 48% of its German rival in a takeover bid, but their exchange did not mark the start of any negotiation, a source close to UniCredit said.
Bettina Orlopp appealed for constructive dialogue with UniCredit after the Italian bank achieved a near majority stake in its German rival.
Germany's Commerzbank , nearing a possible takeover by Italy's UniCredit , said on Thursday that net profit rose 94% in the second quarter, better than analysts had expected.
There is no data to display
