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UniCredit tie-up with Commerzbank could result in massive job cuts, DBV bank union warns
Germany's DBV bank union on Thursday warned of massive job cuts if UniCredit and Commerzbank merge, and said that the German government has a special responsibility to preserve jobs rather than cash in on its remaining stake in the German lender.
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.
UniCredit has Germany's trust, won't go hostile on Commerzbank, CEO tells paper
UniCredit was able to buy 4.5% of Commerzbank from the German state because the government trusts the Italian bank, its CEO said in a newspaper interview, ruling out any "aggressive" moves such as an unsolicited buyout bid.
What buying Commerzbank would mean for UniCredit — and the banking sector
Last week, UniCredit announced it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired from the government. UniCredit continues to surprise markets with some stellar quarterly profit beats.
Italy in favour of UniCredit-Commerzbank deal as long as HQ stay in Italy
Italy's government sees favourably UniCredit's efforts to build a large European banking group through a merger with Germany's Commerzbank as long as the Milanese bank keeps its central functions in Italy, sources close to the matter said.
Intesa CEO says Commerzbank move makes sense for UniCredit, but we're different
UniCredit's investment in German rival Commerzbank is consistent with an "excellent" geographic diversification strategy, the chief executive of Italy's top lender Intesa Sanpaolo said on Wednesday, adding that his bank had a different approach.
UniCredit's bid for Commerzbank is next 'logical step', analyst says
Arnaud Journois, senior vice president of European Financial Institution Ratings at Morningstar DBRS, says there is "double logic" behind UniCredit's bid for Commerzbank as the Italian lender seeks to grow its business.
Exclusive: Commerzbank poised to put CFO Orlopp in charge of talks with UniCredit, sources say
Commerzbank is poised to put CFO Bettina Orlopp in charge of talks with UniCredit when the German bank's supervisory board meets next week, two people with knowledge of the matter said.
German government should hold onto Commerzbank stake and reflect calmly, CFO says
The German government should hold onto its Commerzbank share and reflect calmly on the situation, the German lender's finance chief said on Tuesday.
German finance ministry to continue selling off Commerzbank shares, Bloomberg News reports
The German finance ministry remains committed to selling its entire stake in Commerzbank , despite UniCredit's interest in potentially buying the lender, Bloomberg News reported on Tuesday.
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.
Commerzbank snubs overtures for UniCredit takeover
The chief executive of Germany's Commerzbank snubbed overtures for a takeover by Italy's UniCredit , saying on Monday he had his own plans for the bank and hoped it could stay independent.
