Commerzbank says UniCredit's approach is hostile and unilateral

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Wed, January 22, 2025

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Commerzbank says UniCredit's approach is hostile and unilateral

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Commerzbank says UniCredit's approach is hostile and unilateral

^{Published on 2025-01-22 15:00:47 - Reuters}

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.

Commerzbank has described UniCredit's approach to a potential merger as "hostile and unilateral," according to a Reuters report from January 22, 2025. UniCredit had previously expressed interest in a merger with Commerzbank, aiming to create a stronger European banking entity. However, Commerzbank's management and supervisory boards have rejected this proposal, emphasizing that any merger discussions should be mutual and consensual. The German bank's leadership highlighted concerns over the strategic fit and the potential impact on its ongoing restructuring efforts. This rejection comes amidst a backdrop of increasing consolidation in the European banking sector, where banks are seeking to enhance competitiveness and efficiency through mergers and acquisitions.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/commerzbank-says-unicredits-approach-is-hostile-unilateral-2025-01-22/ ]

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