The behavior of the potential acquirer was very aggressive, very opaque, untransparent,” Germany’s Jörg Kukies told CNBC of UniCredit’s bid for Commerzbank.
Germany's Commerzbank has demanded a formal written proposal amid a potential takeover by Italian bank UniCredit. "We have always signalled our willingness to talk and would examine a proposal from UniCredit in the interests of all stakeholders,
Commerzbank on Wednesday defined UniCredit's approach for a potential tie-up as "hostile", and said there had been no discussion of it with the Italian bank in the past two years, despite UniCredit CEO Andrea Orcel saying there had.
"The behavior of the potential acquirer was very aggressive, very opaque, untransparent," Germany's Jörg Kukies told CNBC of UniCredit's bid for Commerzbank. The move by UniCredit, which is ...
UniCredit SpA Chief Executive Officer Andrea Orcel said he was surprised by the backlash in Germany over his efforts to acquire Commerzbank AG, saying his bank was invited to bid and communicated with all sides.
Italy's UniCredit bank said on Tuesday it would not rush a possible takeover of German rival Commerzbank and was willing to walk away but would wait first for the German election's outcome.
BERLIN (Reuters) - Commerzbank reiterated on Friday that it will not meet with UniCredit for formal discussions until it receives a specific proposal from the Italian bank, which has ruffled feathers in Berlin with its interest in a merger.
German lender under pressure to cut costs and boost returns after unwanted approach from UniCredit. Read more at straitstimes.com.
UniCredit has announced plans to bring its back-office activities for securities services across Italy and Germany in house, standardizing its set-up.
Italian bank UniCredit — one of the last remaining Western banks still operating in Russia — has stopped outgoing euro transfers for individual clients, Russian outlet The Moscow Times wrote on Jan. 23.
Commerzbank AG stepped up its rhetoric against the approach from UniCredit SpA, further complicating the situation for the Italian lender.Most Read from BloombergHow Sanctuary Cities Are Preparing for
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