This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Commerzbank Says It Will Not Engage in Merger Talks with UniCredit Without Specific Proposal
January 27, 2025
Commerzbank reiterated that it will not engage in formal discussions with UniCredit about a merger unless it receives a specific proposal outlining the economic and structural terms of a potential deal. This comes on the back of reports that Commerzbank’s CEO Bettina Orlopp rejected an informal invitation from UniCredit’s CEO Andrea Orcel to discuss a potential tie-up. Commerzbank clarified that while it is open to reviewing a proposal in the interest of all stakeholders, no formal proposal has been received yet. The bank also described UniCredit’s approach as “hostile”, adding that there have been no discussions between them over the past two years. UniCredit has built a 28% stake in Commerzbank largely through derivative instruments and is awaiting the ECB’s approval for the above holding. Its initial 9% stake in Commerzbank that was purchased in September has drawn criticism from the German government, with increased tensions surrounding a potential deal.
Both UniCredit and Commerzbank’s dollar bonds traded stable.
For more details, click here
Go back to Latest bond Market News
Related Posts:Germany Asks UniCredit to Sell Its Commerzbank Stake
December 20, 2024
Commerzbank Upgraded to A- on Strong Bail-In Debt Buffer
March 24, 2023
Commerzbank Merger Talks Re-Emerge
January 15, 2024
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.