UniCredit chief approaches Commerzbank to explore merger talks

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 36 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 98%

Commerzbank News

UniCredit chief approaches Commerzbank to explore merger talks
Unicredit

Italian bank announced on Wednesday it had bought a 9% in its German counterpart

UniCredit chief executive Andrea Orcel approached German lender Commerzbank’s management on Wednesday inviting the bank to explore merger talks, a source with knowledge of the matter told Reuters.UniCredit's approach is the strongest indication yet that the Italian lender wants to buy Commerzbank.

A spokesperson for Commerzbank, which said it was holding a board meeting later on Wednesday to discuss UniCredit, neither confirmed not denied an approach had been made.Fondazione Cariverona, a major Italian shareholder in UniCredit, welcomed the decision by Italy’s second-largest bank to buy a stake in Commerzbank, its chairman said on Wednesday.

“Fondazione Cariverona sees UniCredit’s decision to buy a significant stake in Commerzbank as highly positive”, Chairman Bruno Giordano said in a statement.Payroll software firm UKG to add 200 jobs at Kilkenny hub‘My husband’s weight has begun to affect my desire for him’Harris has Trump’s measure - but she still faces steep climb to election win

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

IrishTimes /  🏆 3. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines