Commerzbank to cut 3,900 mostly German jobs as it tries to head off UniCredit
Commerzbank plans to axe 3,900 mostly local jobs to help it deliver more ambitious profit targets as part of its strategy to fend off UniCredit's advances for a tie-up between the German and Italian lenders,
UniCredit to Decide on Commerzbank Bid in a Year, Orcel Says
UniCredit SpA Chief Executive Officer Andrea Orcel wants to decide at the end of this year whether he makes a takeover offer for Commerzbank AG, linking the decision to the next German government’s willingness to let the deal happen.
Germany's Commerzbank to cut jobs to fight off UniCredit
German lender Commerzbank said Thursday it plans to cut about 3,900 jobs, around 10 percent of its workforce, seeking to fight off pressure for a tie-up from Italian bank UniCredit.It has since boosted its holding in the German bank to around 28 percent.
Commerzbank plans job cuts, new targets to keep UniCredit away, sources say
Germany's Commerzbank is preparing staff cuts and revamped financial targets in its efforts to fend off tie-up advances by Italy's UniCredit , multiple people with direct knowledge of the plans told Reuters.
UniCredit CEO Orcel 'Optimistic' on Support for Commerzbank Deal
UniCredit CEO Andrea Orcel says the bank has "three to four quarters minimum" to assess whether to go ahead with a hostile takeover bid for Commerzbank. The Italian lender has built a large stake in Germany’s Commerzbank over the past few months and Orcel has said he’s considering a deal.
In Full: UniCredit CEO Orcel on Banking Consolidation
UniCredit CEO Andrea Orcel says he's not holding any live talks with Credit Agricole to discuss his bid for Banco BPM. He also says he's optimistic about winning support for a possible bid for Commerzbank AG once a new German government is formed.
Commerzbank to cut 3,900 jobs, mainly in Germany, as it seeks to fend off UniCredit
Commerzbank said on Thursday it would cut 3,900 jobs and unveiled more ambitious financial targets as part of a strategy revamp designed to head off UniCredit's advances for a tie-up between the German and Italian lenders.
UniCredit posts record profit as Andrea Orcel ups dealmaking stakes
Full-year profits rose 2 per cent to a record €9.7bn, and chief executive Andrea Orcel offered a sweetener to shareholders ...
UniCredit Raises Generali Stake as Orcel Seeks Deals Influence
UniCredit SpA has expanded its holding in Italy’s largest insurer, potentially giving Chief Executive Officer Andrea Orcel ...
Orcel Faces Fresh Opposition From Merz in Chase for Commerzbank
If UniCredit SpA Chief Executive Officer Andrea Orcel thought victory for the business-friendly conservatives in next week’s ...
UniCredit CEO vows to keep 2025 profit steady as he sets no-M&A payout goals
MILAN (Reuters) -UniCredit CEO Andrea Orcel on Tuesday pledged to keep this year's profit steady despite easing revenue, and ...
Commerzbank to Cut Jobs in Bid to Boost Returns and Fend off UniCredit
The lender plans to lay off around 9% of its workforce in a bid to boost returns and convince investors of its standalone ...
Germany's second-largest lender Commerzbank to cut 3,900 jobs as it unveils new targets
Commerzbank announced it will eliminate 3,900 full-time positions by 2028, largely in its native Germany, as it unveiled a ...
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No ambition to acquire Generali says Orcel
UniCredit CEO Andrea Orcel told CNBC on Tuesday that Italy's second-largest lender has no ambition to acquire insurance giant Generali, noting it was "a financial investment". Speaking about the ...