The Italian lender denied suggestions that the actual number of tendered shares was lower than stated due to borrowing mechanisms.
Italian bank UniCredit on Monday dismissed as groundless suggestions by Commerzbank that the real take-up in its exchange offer to take over the German lender is lower than data show.
The Italian bank also holds financial contracts that give it exposure to an additional 16.4% stake in Commerzbank, according to a regulatory filing, with one week to go for the offer period.
Rising inflation pressures due to the ongoing war in Iran mean investors will have to wait a little longer for gold to break out of its current consolidation phase, according to Carsten Fritsch, commodity analyst at Commerzbank.
Commerzbank AG (CRZBY) Presents at Goldman Sachs 30th Annual European Financials Conference 2026 Transcript
Commerzbank ETR: CBK Chief Executive Bettina Orlopp said the German lender's updated “Momentum 2030” strategy is built on continued revenue growth, lower costs and efficiency gains from artificial intelligence, while reiterating that the bank sees UniCredit's current takeover offer as unattractive.
The move escalates a tussle between Commerzbank and its largest shareholder, with less than two weeks left for UniCredit's offer to buy the stake in the German bank it doesn't already own.
Commerzbank AG (CRZBY) Q1 2026 Earnings Call Transcript
Commerzbank ETR: CBK opened 2026 with what CEO Bettina Orlopp called “a very good start to the year,” posting record quarterly profit and prompting the lender to raise its full-year guidance while outlining a more ambitious long-term plan under its “Momentum 2030” strategy.
The lender said it would raise its expectations for 2028, and set new targets in a plan for 2030, amid a takeover bid from UniCredit.
Commerzbank on Friday upgraded a series of financial targets after Italy's UniCredit this week formally made a lowball takeover bid for Germany's second-largest bank.
UniCredit CEO Andrea Orcel spoke to CNBC's Caroline Roth about Commerzbank strategy and focus on core markets in Germany and Poland. 🔗Read more: cnb.cx/4urCopB