Italian bank UniCredit’s bid for German stalwart Commerzbank provokes outrage
In a 2005, in a shock-and-awe move, UniCredit snapped up Bavaria’s historic HypoVereinsbank (HVB) for €15 billion. Since then the once-proud institution’s workforce has been halved, profitability is up and all strategic decisions are made in Milan.
Berlin livid as UniCredit tightens its grip on Commerzbank
Things hit fever pitch on Monday after Italy’s UniCredit, led by veteran dealmaker Andrea Orcel, announced out of the blue that it had entered into derivatives transactions that would raise its stake in Germany’s second-largest bank to 21 percent, making it the largest shareholder.
UniCredit Chief Executive Andrea Orcel has succeeded in uniting Germany's political establishment in opposition to his ...
Stefan Wittmann, who is also a senior official at German trade union Verdi, told CNBC’s Annette Weisbach that “we certainly hope we can avoid” a hostile takeover by the Italian bank.
Commerzbank AG dropped after Germany said it won’t sell any more shares in the lender, a move signaling its opposition to any ...
By Tom Sims and John O'Donnell FRANKFURT (Reuters) -Commerzbank supervisory board members on Tuesday voiced fierce opposition ...
UNICREDIT chief executive officer Andrea Orcel used Barclays and Bank of America to help him quietly build up a stake in ...
That seems the logic underlying UniCredit’s pursuit of Germany’s Commerzbank. The Italian lender, led by M&A banker turned bank boss Andrea Orcel, has said it would not launch a hostile offer for ...
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