“I think it is not appropriate for us to have a place in the council because we are competitors,” A. Orcelis said.
He emphasized that Unicredit currently considers the acquisition of a large stake in Commerzbank as an investment.
“Commerzbank is an investment for us at the moment, nothing more. There is no offer,” said the head of Unicredit.
Asked about relations with the German government, he added: “We are more than ready to resume the dialogue and have a constructive dialogue with all stakeholders.”
The Bank of Italy surprised German bankers and politicians by unexpectedly announcing a 9% rate two weeks ago. Acquisition of Commerzbank shares, 4.5 percent. by buying shares from the German government and the same amount on the market.
UniCredit has asked the European Central Bank for approval to increase its controlling stake in Germany’s second-largest bank to 29.9 percent, fueling speculation that UniCredit, which already owns German lender HypoVereinsbank, could take over Commerzbank outright.
Earlier this week, UniCredit said it had increased its controlling stake in Commerzbank to around 21 percent. and became its largest shareholder, overtaking the German government. On the other hand, the report stated that another 11.5 percent he can control the shares through available financial instruments, but the actual recalculation of the controlled share package can only take place after obtaining the necessary permits from the regulators.
In response, German Chancellor Olaf Scholz sternly warned UniCredit to refrain from “unfriendly” actions such as a hostile takeover of a competitor.
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2024-09-27 23:48:26
