Commerzbank AG Sponsored ADR (CRZBY)
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.
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.
