2024-09-24 17:55:09
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Banking
Economy
Germany Criticizes UniCredit's Commerzbank Takeover Attempt
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Deutsche Welle
Economy
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UniCredit, led by CEO Andrea Orcel, has acquired a 21% stake in Commerzbank, Germany's second-largest bank. The German government opposes a potential UniCredit takeover, citing Commerzbank's role in supporting the country's Mittelstand. UniCredit's move has reignited speculation about consolidation in Europe's fragmented banking sector, with Deutsche Bank as a potential competitor. Orcel's past includes orchestrating mergers and being involved with the Royal Bank of Scotland's bailout during the..
Frankfurter Rundschau
"Amateurish" - Did the Federal Government Allow Itself to Be Overwhelmed in the Commerzbank Sellout?
UniCredit increases stake in Commerzbank; Federal Government surprised; Speculation about possible takeover.
sueddeutsche
Financial Industry: Enough with the Lament! The Federal Government Made Mistakes in the Fight for Commerzbank
Economy
Finance
Politics
The takeover poker of the Italian major bank Unicredit around Commerzbank has become a political issue between Rome and Berlin within a few days. It didn't have to come to this.
Frankfurter Rundschau
Harsh Criticism of Olaf Scholz for Selling Commerzbank Shares: 'A Disaster for the German Banking Market'
Despite the criticism, Finance Minister Lindner points out that the federal government cannot be permanently involved in a private bank. In addition, Commerzbank made the highest profit in 15 years last year, and the share price has quintupled in the last five years, which relativizes the selling price.
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