Frankfurt, September 12 (FinanceFlashNews.com) – German bank Commerzbank is making efforts to prevent a potential takeover by its Italian rival UniCredit. According to reports from Reuters and DPA, sources familiar with the situation revealed that Commerzbank’s management has been discussing strategies to maintain the bank’s independence.
Exploring Defense Strategies
One source mentioned that Commerzbank’s leadership has considered several options to defend against a potential takeover. While the bank is legally obligated to discuss any formal offers that might be presented by UniCredit, it remains focused on retaining its autonomy. Reportedly, Commerzbank has enlisted Goldman Sachs to evaluate potential defense strategies. However, Commerzbank has refused to comment on the ongoing speculation.
UniCredit’s Strategic Investment
On Wednesday, UniCredit unexpectedly purchased a 9% stake in Commerzbank, sparking speculation of a potential takeover. The Italian bank has signaled interest in increasing its share further. If a takeover occurs, the combined entity would become a banking giant in Europe with a market value of nearly 74 billion euros, second only to the British bank HSBC.
Keywords: Commerzbank, UniCredit, takeover, Goldman Sachs, banking, Europe, HSBC
