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Commerzbank boss remains calmly after unicredit purchases
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Unicredit has been causing unrest in Frankfurt for months. The youngest increase in the Italians at Commerzbank is not worried. But an important brand is getting closer.
Commerzbank boss Bettina Orlopp is emphasized given the recent stock purchases of the UniCredit. “Nothing has changed right at the moment,” said Orlopp at the “Handelsblatt-Banken-summit” in Frankfurt.
“It would actually be a big difference for us if the UniCredit decided to jump over 30 percent and then also take a takeover offer,” said Orlopp. For so long, Commerzbank focuses on increasing value for its investors, shareholders and employees.
Unicredit shortly before the 30 percent mark
The Italian Unicredit, which had entered Commerzbank a year ago, had increased its share in the DAX group to a little more than 26 percent a week ago.
At the same time, the Milan Institute confirmed that the remaining financial instruments “in due course” also reacted to Commerzbank shares, which would increase its share of the shares to around 29 percent. If the 30 percent mark is exceeded, the UniCredit would be obliged to submit an official purchase offer to the other Commerzbank shares.
In the end, the decision about such an offer was with the shareholders of Commerzbank, said Orlopp. “The decision will be dependent on it: Does such a transaction make sense – yes or no? Is it addictive – yes or no?”
Great resistance to the desires of the UniCredit
Unicredit boss Andrea Orcel is unimpressed by all resistances in Germany for the advantages of cross-border merger: The Unicredit, which already has a mainstay in the German market with Hypovereinsbank (HVB), sees opportunities in business with private and medium-sized customers.
Management and works council of Commerzbank reject orceles as well as the federal government as “hostile” and “unfriendly”. In Germany there are great concerns that a merger of the two large banks in this country would result in job cuts and branch closures.
dpa
Source: Stern