Commerzbank: UniCredit denies bid rumours

(CercleFinance.com) - No banking mandate has been signed relating to any potential rumoured market operation, UniCredit said on Wednesday, denying rumours of a bid for Germany's Commerzbank.


The Italian lender said that it has made this announcement at the request of the Italian market autorithies, after media speculation reported that UniCredit was preparing a potential bid on Commerzbank by hiring investment banks.

Analysts at French brokerage Oddo say that the statement maintains M&A speculation around Commerzbank after the failed negotiations with Deutsche Bank last month.

The Milan-listed UniCredit shares were down 1.7% this morning after losing 2.4% yesterday. Meanwhile, in Frankfurt, Commerzbank shares are down 1.8%, after jumping 4.3% on Tuesday.

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