The Process Began Two Years Ago: The Giant Bank Is Changing Hands.
5 Articles
5 Articles
Unicredit plans to enter Commerzbank without a bald blow in the retail banking business, says bank boss Andrea Orcel. The federal government should also remain on board as a shareholder. A merger with Hypovereinsbank will only be decided in a few years.
Germany's Commerzbank has made it clear for the first time that it is ready to sit down at the negotiating table with Italy's UniCredit about a possible takeover, marking a major turnaround after months of opposition to the transaction. Commerzbank Supervisory Board Chairman Jens Weidmann said that, following the changes in the ownership structure, it was time for "constructive talks" between the two banks to protect the interests of employees, …
Despite objections from the German government, Italian company Unicredit is preparing to take over the management of Commerzbank.
The German financial institution Commerzbank has given in after persistent pressure from Italian peer UniCredit: talks about a merger can now take place after all.
Commerzbank supervisory board chairman Jens Weidmann has conceded defeat in the battle against the takeover and is calling on the Italian bank UniCredit to hold direct talks with its management board. The majority situation is now clear: "Everyone should now behave like adults," said Weidmann.
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