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Germany's Scholz slams UniCredit's 'hostile' move on Commerzbank
UniCredit's attempt to participate in Commerzbank without consultation is an unfriendly act and is not appropriate in Europe and in Germany, German Chancellor Olaf Scholz said on Monday.
Commerzbank board member condemns UniCredit's 'inappropriate aggressive act'
Stefan Wittmann, a member of Commerzbank's supervisory board, on Monday condemned the buildup by UniCredit of its stake in German bank as a "completely inappropriate aggressive act".
UniCredit raises stake in Commerzbank to 21%, seeks approval to increase holding to 29.9%
In a strategic move reflecting confidence in Germany's banking sector, UniCredit, Italy's largest lender, has raised its stake in Commerzbank to 21%. The Italian bank, led by CEO Andrea Orcel, plans to increase its shareholding further, targeting up to 29.9%.
UniCredit reaches deal to boost Commerzbank stake
UniCredit on Monday said it's reached an agreement to further increase its stake in Commerzbank as the German government increasingly attempts to ward off an Italian acquisition of its number-two bank.
UniCredit Raises Commerzbank Holding to Around 21%
The Italian lender had earlier disclosed a 9% stake in its German peer, reviving speculation that it could pursue a tie-up.
UniCredit boosts its stake in Commerzbank, applies to own up to 29.9% of the German bank
UniCredit announced it had increased its stake in German lender Commerzbank to 21% and submitted a request to boost the holding to up to 29.9%.
UniCredit buys further 11.5% of Commerzbank in derivatives as it applies to get to 29.9%
UniCredit said it had acquired on Monday, through financial instruments, a further 11.5% of Commerzbank after applying to supervisors to reach a holding of up to 29.9% in the German rival.
Commerzbank shares fall 3% as German government retains stake
Shares of Commerzbank traded 3.1% lower on Monday after the government said that it would retain its 12% stake in the German bank for now in a move that will likely keep any merger with Italy's UniCredit on hold.
Commerzbank warns UniCredit merger is threat to German businesses, FT reports
Commerzbank's management has warned the German government that a potential multibillion euro merger with UniCredit is a threat to businesses that make up the backbone of Europe's biggest economy, the Financial times reported on Monday.
Germany to retain Commerzbank shares as bank strives for independence
Germany has made it clear that it will hold onto its remaining shares in Commerzbank for the foreseeable future, affirming that the bank's strategy remains focused on maintaining its independence. This was confirmed by Germany's Finance Agency on Friday, indicating the government's current stance against a takeover of the country's second-largest bank.
Germany won't sell more Commerzbank shares for now, finance agency says
Germany will not sell any more shares in Commerzbank for the time being and the bank's strategy is "geared towards independence," the nation's finance agency said on Friday.
Germany must oppose UniCredit takeover of Commerzbank, bank employees and union warn
Commerzbank employees and a prominent labour union on Friday called on the German government to oppose a takeover of the German lender by Italy's UniCredit.
