Commerzbank Rejects UniCredit’s ‘Hostile’ Approach
German lender Commerzbank AG says it has formally rejected Italian rival UniCredit Spa’s latest takeover proposal, saying it lacks value and undermines trust. Bloomberg's Tom Metcalf reports. (Source: Bloomberg)
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Orcel Says UniCredit Will 'Pause' Commerzbank Pursuit If No Control Reached
UniCredit CEO Andrea Orcel said he’ll put his yearslong effort to buy Commerzbank on hold if his takeover bid fails to win him control over the lender. “If we do not reach control, we will take a pause, and we will focus on other topics that we have internally,” Orcel said on Bloomberg Television. (Source: Bloomberg)
In Full: UniCredit CEO Orcel on His Pursuit of Commerzbank
UniCredit CEO Andrea Orcel discusses the status of the lender's bid to buy Commerzbank. The Italian bank is already the largest investor in Commerzbank and currently owns just under 30% in it. Orcel has been trying to buy the German rival for over 18 months, but Commerzbank’s leadership has consistently rebuffed the approach. Orcel speaks on Bloomberg Television. (Source: Bloomberg)