US EditionUniCredit woos Commerzbank shareholders in takeover battle
Andrea Orcel says the plan could add €1.1 billion in value by 2030 and lift net profit by €600 million in 2028.
- On Monday, UniCredit Andrea Orcel announced a plan to fully acquire Commerzbank, aiming to create a "country leader and benchmark" through a "true combination" of the two lenders.
- Orcel claims the "Unlocked" proposal would generate €1.1 billion in value by 2030, arguing Commerzbank's current strategy leaves it "increasingly unfit for a banking environment that is changing rapidly."
- UniCredit's stake in the Frankfurt-based lender has swelled above the 30% threshold, triggering mandatory takeover rules; if successful, Orcel plans to keep Commerzbank "completely separate and distinct" for 18 months.
- Commerzbank previously opposed a merger, stating on April 7 that there is "no basis for a mutually agreed value-accretive transaction" and the Italian lender failed to demonstrate sufficient value creation.
- Under the proposed scenarios, UniCredit could remain a minority shareholder or gain control, with the strategy aiming to refocus the German bank on its core markets in Germany and Poland.
49 Articles
49 Articles
The takeover fight is sharpening: Unicredit attacks Commerzbank's business model and criticizes massive weaknesses. The German financial institution counters and rejects all accusations. Federal Chancellor Friedrich Merz (CDU) also comments on the battle ... The Italian big bank Unicredit keeps the takeover struggle going with sharp criticism of Commerzbank's business model. In a presentation, the Italian institute spoke of a "history of operati…
Unicredit accuses Commerzbank of relying too much on short-term success and to have structural weaknesses. What the Italians are now demanding - and how the Frankfurt Institute reacts.
Tagesschau
nachrichten.atThe Italian bank UniCredit increases the pressure in the takeover fight and rejects Commerzbank's viability. In the event of a takeover, the Italians expect a significant increase in profits.[more]]>
Unicredit boss Orcel gives Commerzbank a devastating testimony and makes it clear: The time of polite approach is over. The matter has long since become one of the toughest bank takeover battles in Europe.
The Milan bank wants to take over the German institute. Now its boss Andrea Orcel explains in detail how this should work. He is unlikely to convince his opponents in Frankfurt.
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