The Italian Bank, Unicredit, is preparing, according to media reports, a takeover offer for Commerzbank. The talks about a possible merger with the German Commerzbank to run an Insider, according to schedule.
The group will not turn on, probably, in the ongoing merger talks between Commerzbank and Deutsche Bank, but, if these talks fail, reported the Financial Times citing several familiar with the matter people.
Unicredit would like to take up a significant proportion of the control at Commerzbank and its German subsidiary HypoVereinsbank merge. Commerzbank is currently valued on the stock exchange, with around nine billion euros. Unicredit and Commerzbank declined to comment on the report.
Takeover target two years ago?
The “Financial Times” States that the merged Bank would have its headquarters in Germany, the parent company Unicredit in Italy. The Reuters news Agency had reported two years ago that the Italian Bank had signed in Berlin an interest in Commerzbank. The Bank later denied such an interest. A Takeover of Commerzbank might well succeed against the resistance of the Federal government, because the state is involved with 15 percent of the Bank, since he attacked her in the financial crisis.
Meanwhile, the talks about a possible merger of Deutsche Bank and Commerzbank are running an Insider according to according to plan. The negotiations of the two banks would be conducted “very carefully,” said the Person with direct knowledge of the talks told Reuters on Thursday. “If, then, we do it right.” Therein, the management Board and the Supervisory Board of Deutsche Bank were agreed. A spokesman for the largest domestic money house and Commerzbank wanted to not comment on this.
Disagreement on the pace
The insiders, according to the Commerzbank expresses mainly on the Tempo, while the Deutsche Bank was going to take more time for the talks, it said in Reuters. The different ideas on the timetable for the negotiations should fail.
The “Frankfurter Allgemeine Zeitung” in its Thursday edition, the Deutsche Bank Supervisory Board Chairman Paul Achleitner. This had recently references on the Thursday after Easter. 25. April submit to the Bank quarterly figures, in this context, one would also report on the “concrete Considerations” to a possible merger.
The “business week” according to the Commerzbank Board of managing Directors will decide next Tuesday whether the negotiations on a possible to be concluded or interrupted intensify. The “Süddeutsche Zeitung” reported that the merger talks could come next weekend to a contest.
On the stock exchange the prices of the two banks reacted differently to the latest developments in The so-called M-Dax-listed Commerzbank share price rose by up to 3.7 percent, the papers of Deutsche Bank reduced, however, by 2.6 percent.
cgn/hb/as (rtr, boerse.ard.de, Financial Times, business week)