Germany's Scholz Shuts Door to UniCredit After 'Attack' on Commerzbank
MILAN/FRANKFURT (Reuters) -German Chancellor Olaf Scholz slammed as "an unfriendly attack" UniCredit's move to become the biggest investor in rival Commerzbank with a potential 21% stake, marking growing hostility towards the Italian bank.
The German bank named its next CEO on Tuesday. The lender’s board decried a sudden buy-up of stock by Italy’s UniCredit, which may be looking for a cross-border path to take on Wall Street.
Commerzbank has, like some other banks, had a rocky history with big mergers and acquisitions over the years. The bank was ...
Stefan Wittmann, who is also a senior official at German trade union Verdi, told CNBC’s Annette Weisbach that “we certainly hope we can avoid” a hostile takeover by the Italian bank.
Italian government officials are growing frustrated at Germany’s opposition to a potential takeover of Commerzbank AG by ...
That seems the logic underlying UniCredit’s pursuit of Germany’s Commerzbank. The Italian lender, led by M&A banker turned bank boss Andrea Orcel, has said it would not launch a hostile offer for ...
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