Tag #Unicredit

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faz.net

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May 15, 19:11

Commerzbank Shareholders Reject Unicredit Takeover Bid

At Commerzbank's annual general meeting, CEO Bettina Orlopp addressed shareholder concerns regarding a potential Unicredit takeover, emphasizing the bank's positive outlook and new strategy, while employees protested fearing job losses; a social plan has been agreed to mitigate these.

Commerzbank Shareholders Reject Unicredit Takeover Bid

At Commerzbank's annual general meeting, CEO Bettina Orlopp addressed shareholder concerns regarding a potential Unicredit takeover, emphasizing the bank's positive outlook and new strategy, while employees protested fearing job losses; a social plan has been agreed to mitigate these.

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What are the immediate impacts of Unicredit's potential acquisition bid on Commerzbank's employees and strategy?

Commerzbank's CEO, Bettina Orlopp, addressed 595 shareholders at the annual general meeting, facing potential acquisition by Unicredit. Around 100 employees protested the takeover, fearing job losses, while management and the Verdi union emphasized the bank's positive trajectory and a new strategy aiming for 15% profitability by 2028. A social plan was signed to mitigate job cuts from planned restructuring.

zeit.de

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May 15, 13:10

Commerzbank Rejects Unicredit Takeover Bid Amidst Employee Protests

Commerzbank employees and representatives protested a potential hostile takeover by Unicredit at their annual meeting in Wiesbaden, Germany, amid concerns about job losses and the German government's support for Commerzbank's independence.

Commerzbank Rejects Unicredit Takeover Bid Amidst Employee Protests

Commerzbank employees and representatives protested a potential hostile takeover by Unicredit at their annual meeting in Wiesbaden, Germany, amid concerns about job losses and the German government's support for Commerzbank's independence.

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How does the German government's stake in Commerzbank influence Unicredit's strategy and the overall situation?

Unicredit, now Commerzbank's second-largest shareholder with about 28 percent, is considering a takeover but hasn't made a formal offer. The German government, holding over 12 percent of Commerzbank shares, supports Commerzbank's independence, viewing it as a systemically important bank. Commerzbank aims to maintain its independence through job cuts and increased profits.

welt.de

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May 9, 13:19

Commerzbank's Strong Q1 Earnings Bolster Defense Against Unicredit Takeover

Commerzbank announced record Q1 2024 earnings of €834 million, exceeding expectations despite job cuts and countering Unicredit's takeover attempt; the bank projects a full-year profit of approximately €2.4 billion.

Commerzbank's Strong Q1 Earnings Bolster Defense Against Unicredit Takeover

Commerzbank announced record Q1 2024 earnings of €834 million, exceeding expectations despite job cuts and countering Unicredit's takeover attempt; the bank projects a full-year profit of approximately €2.4 billion.

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What is the significance of Commerzbank's Q1 2024 earnings in relation to Unicredit's takeover bid?

The Commerzbank reported its best quarterly earnings since early 2011, reaching €834 million in Q1 2024, exceeding last year's €747 million. This strong performance offset job cuts and increased personnel costs, exceeding expectations despite decreased interest income. The bank anticipates a full-year profit of around €2.4 billion, or €2.8 billion excluding restructuring charges.

faz.net

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Apr 15, 19:16

German Cartel Office Approves Unicredit's Increased Commerzbank Stake

Germany's Bundeskartellamt approved Unicredit's plan to increase its stake in Commerzbank to 29.99%, citing sufficient competition from other banks despite Commerzbank's strong market positions in some areas; the decision follows ECB approval and despite resistance from the German government.

German Cartel Office Approves Unicredit's Increased Commerzbank Stake

Germany's Bundeskartellamt approved Unicredit's plan to increase its stake in Commerzbank to 29.99%, citing sufficient competition from other banks despite Commerzbank's strong market positions in some areas; the decision follows ECB approval and despite resistance from the German government.

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What is the immediate impact of the Bundeskartellamt's decision on the competitive landscape of the German banking sector?

The German Federal Cartel Office (Bundeskartellamt) approved Unicredit's increase of its Commerzbank stake to 29.99%, concluding that the merger wouldn't significantly harm competition. This follows prior approval from the ECB. Unicredit currently holds 9.5% but secured access to additional shares through derivatives and partner banks.

repubblica.it

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Mar 26, 13:14

EU Court Upholds Most Fines on Banks in Bond-Trading Cartel Case

The EU General Court largely confirmed fines against six banks, including Unicredit (€65 million), for participating in a bond-trading cartel during the 2007-2011 financial crisis, with the cartel operating via Bloomberg chat to coordinate pricing and trading strategies.

EU Court Upholds Most Fines on Banks in Bond-Trading Cartel Case

The EU General Court largely confirmed fines against six banks, including Unicredit (€65 million), for participating in a bond-trading cartel during the 2007-2011 financial crisis, with the cartel operating via Bloomberg chat to coordinate pricing and trading strategies.

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How did the bond-trading cartel operate, and what specific actions by the traders constituted anti-competitive behavior?

The cartel involved traders from six major banks exchanging sensitive information via Bloomberg chat, coordinating pricing and trading strategies for eurozone government bonds during the financial crisis. This collusion harmed member states and occurred while many financial institutions required public funds for survival, exacerbating the crisis.

welt.de

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Mar 14, 13:11

Unicredit's Commerzbank Bid Faces Resistance Amid Job Cuts

Unicredit holds nearly 28% of Commerzbank shares, aiming for a takeover despite opposition from the German government and Commerzbank itself, which is cutting 3,900 jobs while maintaining overall workforce numbers. A decision is delayed until next year.

Unicredit's Commerzbank Bid Faces Resistance Amid Job Cuts

Unicredit holds nearly 28% of Commerzbank shares, aiming for a takeover despite opposition from the German government and Commerzbank itself, which is cutting 3,900 jobs while maintaining overall workforce numbers. A decision is delayed until next year.

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What are the key sources of opposition to Unicredit's takeover bid, and how might they impact the outcome?

Unicredit's pursuit of Commerzbank is facing significant resistance. The German government, holding 12% of Commerzbank due to a 2008 bailout, and Commerzbank itself have voiced opposition. Commerzbank's management is actively defending against the takeover attempt, highlighting its own strategy and profitability plans.

sueddeutsche.de

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May 15, 13:10

Commerzbank Shareholders Reject Unicredit Takeover Bid

Commerzbank's shareholders and employees strongly protested Unicredit's potential takeover bid at their annual meeting in Wiesbaden, Germany, with concerns over job losses and the bank's future; Unicredit's CEO stated they could wait until 2027 to decide, contingent on the German government's stance...

Commerzbank Shareholders Reject Unicredit Takeover Bid

Commerzbank's shareholders and employees strongly protested Unicredit's potential takeover bid at their annual meeting in Wiesbaden, Germany, with concerns over job losses and the bank's future; Unicredit's CEO stated they could wait until 2027 to decide, contingent on the German government's stance...

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How does the German government's stake in Commerzbank and its stance on the takeover influence the situation?

Unicredit, now Commerzbank's second-largest shareholder with over 28% stake, hasn't made a formal takeover offer. Their decision hinges on discussions with the new German government, Commerzbank's management cooperation, and the bank's financial performance. The German government, owning over 12% of Commerzbank, advocates for its independence.

faz.net

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May 14, 16:10

Commerzbank Share Price Surge Triggers Takeover Battle with Unicredit

Commerzbank's share price has surged to €26.20 this week, nearing the German government's average purchase price after a 2008 bailout, prompting a takeover battle with Unicredit, which has acquired nearly 30% of the bank's shares.

Commerzbank Share Price Surge Triggers Takeover Battle with Unicredit

Commerzbank's share price has surged to €26.20 this week, nearing the German government's average purchase price after a 2008 bailout, prompting a takeover battle with Unicredit, which has acquired nearly 30% of the bank's shares.

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How did the German government's Commerzbank investment evolve from 2008 to the present, including key transactions and their financial outcomes?

The German government's initial €18.2 billion bailout of Commerzbank in 2008/2009 involved a mix of equity and silent participation. After several transactions, including a loss-making share sale in 2013, the government retained a 16.5% stake with an average purchase price of €26.40. The recent share price surge nears this price, signifying a potential recovery of the government's investment.

repubblica.it

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Apr 20, 04:10

Italy's Golden Power Curbs Unicredit's Banco BPM Deal

The Italian government used its "golden power" to impose conditions on Unicredit's takeover of Banco BPM, including maintaining investments in Italian securities, loan-to-deposit ratios, and infrastructure projects for five years, and ceasing all Russian operations within nine months, sparking debat...

Italy's Golden Power Curbs Unicredit's Banco BPM Deal

The Italian government used its "golden power" to impose conditions on Unicredit's takeover of Banco BPM, including maintaining investments in Italian securities, loan-to-deposit ratios, and infrastructure projects for five years, and ceasing all Russian operations within nine months, sparking debat...

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What are the immediate economic impacts of the Italian government's conditions on Unicredit's acquisition of Banco BPM?

The Italian government imposed conditions on Unicredit's public exchange offer for Banco BPM, impacting investments in Italian securities, loan-to-deposit ratios, infrastructure project financing, and operations in Russia. These restrictions aim to support the Italian economy and financial stability.

repubblica.it

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Apr 14, 16:12

German Antitrust Authority Approves UniCredit's Increased Stake in Commerzbank

Germany's Bundeskartellamt approved UniCredit's acquisition of up to 29.9% of Commerzbank, following an investigation that considered market competition and alternative financing options for SMEs; the acquisition did not require EU approval.

German Antitrust Authority Approves UniCredit's Increased Stake in Commerzbank

Germany's Bundeskartellamt approved UniCredit's acquisition of up to 29.9% of Commerzbank, following an investigation that considered market competition and alternative financing options for SMEs; the acquisition did not require EU approval.

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What is the significance of the German antitrust authority's approval of UniCredit's increased stake in Commerzbank?

The German Federal Cartel Office (Bundeskartellamt) approved UniCredit's acquisition of a stake in Commerzbank, allowing UniCredit to increase its holding to 29.9%. This decision follows a thorough investigation by the Bundeskartellamt into market competition, considering competitors like Deutsche Bank and assessing alternative financing options for businesses.

zeit.de

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Mar 14, 10:09

Unicredit Advances in Commerzbank Takeover Bid

Unicredit's near-30% stake increase in Commerzbank, approved by the ECB, faces review by the German Federal Cartel Office; this follows Unicredit's strategic investment after the German government's partial divestment, resulting in potential merger discussions and internal resistance from Commerzban...

Unicredit Advances in Commerzbank Takeover Bid

Unicredit's near-30% stake increase in Commerzbank, approved by the ECB, faces review by the German Federal Cartel Office; this follows Unicredit's strategic investment after the German government's partial divestment, resulting in potential merger discussions and internal resistance from Commerzban...

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What are the immediate implications of the ECB's approval for Unicredit's potential acquisition of Commerzbank?

Unicredit is nearing a potential takeover of Commerzbank, with the European Central Bank (ECB) raising no objections to Unicredit increasing its stake to almost 30 percent. The German Federal Cartel Office is also reviewing the acquisition, which began after Unicredit capitalized on the German government's partial divestment from Commerzbank. Unicredit currently holds around 28 percent of Commerzbank shares.

welt.de

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Mar 14, 10:09

Unicredit's Delayed Commerzbank Takeover Bid

Unicredit holds about 28% of Commerzbank shares, aiming for a takeover despite resistance from Commerzbank's management, labor unions, and the German government, delaying a final decision until next year due to regulatory hurdles and negotiations.

Unicredit's Delayed Commerzbank Takeover Bid

Unicredit holds about 28% of Commerzbank shares, aiming for a takeover despite resistance from Commerzbank's management, labor unions, and the German government, delaying a final decision until next year due to regulatory hurdles and negotiations.

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What is Unicredit's current stake in Commerzbank, and what immediate implications does this have for both banks?

Unicredit, an Italian bank, currently holds approximately 28% of Commerzbank shares—9.5% directly and 18.5% through financial instruments. Further regulatory approvals are needed before converting the latter into direct ownership. This move is part of Unicredit CEO Andrea Orcel's ongoing pursuit of a Commerzbank takeover.

Showing 13 to 24 of 54 results