UniCredit is moving toward a formal takeover bid for Commerzbank, pursuing a strategic acquisition of the German lender. Despite resistance from the German bank’s management and a regulatory ban on its advertising, the Italian lender intends to force a decision …
Bafin has ordered Unicredit to remove online advertisements that criticized Commerzbank as neglected, insecure and short-term oriented, marking an unusual regulatory intervention in a cross-border bank takeover battle. The ads, which ran alongside a conference call where Andrea Orcel promoted …
Italian officials have rejected German political pressure to relocate UniCredit’s headquarters should it acquire Commerzbank, calling the idea self-evidently unacceptable. The pushback came after SPD deputy faction leader Armand Zorn argued that any merged entity must be based in Frankfurt, …