Commerzbank: whetting Unicredit's appetite
(CercleFinance.com) - According to the Financial Times (FT), the Italian bank Unicredit appears to be preparing a partial offer for its German counterpart Commerzbank, in the event that its merger with Deutsche Bank, which seems to be facing increasing difficulties, were to fail.
The Commerzbank share is up 3% this morning.
At present, Unicredit has a market capitalisation of over 27 billion euros on the Milan Stock Exchange, while in Frankfurt, Commerzbank and Deutsche Bank are respectively worth 9 billion and 15.8 billion euros.
According to the FT, and if the required circumstances arise, Unicredit would want to take "a substantial stake" in Commerzbank's capital - which would remain listed on the Frankfurt Stock Exchange - as well as the latter's merger with its current German subsidiary, HypoVereinsbank.
The headquarters of the entity formed between Commerzbank and HypoVereinsbank would still be based in Germany, while that of Unicredit - where it is listed - would be remain in Milan, the FT adds.
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The Commerzbank share is up 3% this morning.
At present, Unicredit has a market capitalisation of over 27 billion euros on the Milan Stock Exchange, while in Frankfurt, Commerzbank and Deutsche Bank are respectively worth 9 billion and 15.8 billion euros.
According to the FT, and if the required circumstances arise, Unicredit would want to take "a substantial stake" in Commerzbank's capital - which would remain listed on the Frankfurt Stock Exchange - as well as the latter's merger with its current German subsidiary, HypoVereinsbank.
The headquarters of the entity formed between Commerzbank and HypoVereinsbank would still be based in Germany, while that of Unicredit - where it is listed - would be remain in Milan, the FT adds.
Copyright (c) 2019 CercleFinance.com. All rights reserved.