European takeover battle hots up with UniCredit’s ‘unfriendly attack’ on Commerzbank
Stay on top of this story
Follow the names and topics behind it.
Add this story's key topics to your watchlist so LyscoNews can highlight related developments and future matches.
Create a free account to sync your watchlist, saved stories, and alerts across devices.
Quick Summary
Milan-based bank plans to up its near-30% stake in German lender to trigger formal talks despite strong opposition from Berlin
Business live – latest updates
Two European banking powerhouses have become embroiled in a €35bn (£30bn) takeover battle after Italy’s UniCredit stepped up its long-running pursuit of German lender Commerzbank, despite strong opposition from the German government. UniCredit first took a stake of 9% in Commerzbank in September 2024 and has since built up its holding to just under 30%. It said on Monday it was pushing to increase that holding further and push the rival lender into formal merger talks. Continue reading...