Tag #Unicredit

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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.

faz.net

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Feb 13, 22:08

Commerzbank Raises Targets, Announces Job Cuts to Deter Unicredit Takeover

Commerzbank raised profit and efficiency targets, announced 3900 job cuts, and plans to distribute all annual profits until 2028 to increase shareholder value and potentially thwart a Unicredit takeover; its share price increased by over 1% on Thursday.

Commerzbank Raises Targets, Announces Job Cuts to Deter Unicredit Takeover

Commerzbank raised profit and efficiency targets, announced 3900 job cuts, and plans to distribute all annual profits until 2028 to increase shareholder value and potentially thwart a Unicredit takeover; its share price increased by over 1% on Thursday.

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What immediate actions is Commerzbank taking to increase shareholder value and what are the potential short-term consequences?

The Commerzbank, Germany's second-largest publicly traded bank, raised its profit and efficiency targets for the second time in six months. It announced plans for job cuts, primarily in Germany, and the distribution of all annual profits until 2028 through dividends and share buybacks. This aims to increase shareholder value and potentially deter a takeover by Unicredit.

faz.net

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Feb 13, 13:10

Unicredit's Bid for Commerzbank Amidst Record Profits and Political Opposition

Unicredit CEO Andrea Orcel's bid to acquire Commerzbank, despite opposition from German officials, follows Commerzbank's record €2.7 billion profit in 2024 and partial government divestment.

Unicredit's Bid for Commerzbank Amidst Record Profits and Political Opposition

Unicredit CEO Andrea Orcel's bid to acquire Commerzbank, despite opposition from German officials, follows Commerzbank's record €2.7 billion profit in 2024 and partial government divestment.

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What are the immediate implications of Unicredit's bid for Commerzbank on the German banking sector and its Mittelstand?

Unicredit, led by Andrea Orcel, made a bid to acquire Commerzbank, a move met with resistance from German officials concerned about potential impacts on Mittelstand lending and decision-making.

faz.net

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Feb 13, 10:10

Commerzbank to Cut 3900 Jobs to Counter Unicredit Takeover Bid

Commerzbank, facing a potential takeover by Unicredit, plans to cut 3900 jobs by 2027, primarily in Germany, to increase profitability to \$4.2 billion by 2028 and deter a hostile takeover while maintaining a largely constant global workforce of 36,700.

Commerzbank to Cut 3900 Jobs to Counter Unicredit Takeover Bid

Commerzbank, facing a potential takeover by Unicredit, plans to cut 3900 jobs by 2027, primarily in Germany, to increase profitability to \$4.2 billion by 2028 and deter a hostile takeover while maintaining a largely constant global workforce of 36,700.

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How will Commerzbank's planned job cuts impact its workforce and operations in Germany?

The job cuts are part of Commerzbank's strategy to enhance profitability and deter Unicredit's acquisition attempt. Unicredit currently holds over 28% of Commerzbank's shares, nearing the 30% threshold that would trigger a mandatory takeover offer. Commerzbank aims to increase its profit to \$4.2 billion by 2028, up from \$2.7 billion in 2022, and is planning high dividend payouts to shareholders.

faz.net

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Feb 12, 16:19

Unicredit's Commerzbank Bid Sparks Fears of German Economic Slowdown

A potential Unicredit takeover of Commerzbank is causing alarm among German businesses, particularly SMEs, who fear reduced credit access, less favorable terms, and a shift in decision-making to Milan, jeopardizing Germany's economic competitiveness and sustainability goals.

Unicredit's Commerzbank Bid Sparks Fears of German Economic Slowdown

A potential Unicredit takeover of Commerzbank is causing alarm among German businesses, particularly SMEs, who fear reduced credit access, less favorable terms, and a shift in decision-making to Milan, jeopardizing Germany's economic competitiveness and sustainability goals.

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How might the change in ownership impact access to credit for sustainability initiatives within German companies?

The acquisition threatens to diminish the financing capabilities crucial to the German economy, especially for SMEs. A reduction from five to four major domestic financiers could constrain credit availability and increase costs, potentially hindering investment and economic growth. This concern stems from past experiences where international banks prioritized their home markets during crises, leaving German businesses at a disadvantage.

cnbc.com

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Feb 11, 10:09

UniCredit Q4 Profit Beats Estimates, but 2025 Revenue Slowdown Projected

UniCredit reported a €1.97 billion fourth-quarter net profit, exceeding expectations, but forecasts a revenue decline to above €23 billion in 2025 due to reduced Russian operations and net interest income, while pursuing acquisitions in Germany and Italy amid regulatory challenges.

UniCredit Q4 Profit Beats Estimates, but 2025 Revenue Slowdown Projected

UniCredit reported a €1.97 billion fourth-quarter net profit, exceeding expectations, but forecasts a revenue decline to above €23 billion in 2025 due to reduced Russian operations and net interest income, while pursuing acquisitions in Germany and Italy amid regulatory challenges.

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How do geopolitical factors and regulatory pressures in Russia and Italy influence UniCredit's projected revenue and strategic plans for 2025?

UniCredit's strong Q4 results are tempered by anticipated revenue decline in 2025, primarily due to reduced net interest income and the ongoing divestment of Russian operations. This decrease follows pressure from the European Central Bank and reflects the challenges posed by geopolitical factors and the evolving banking landscape.

zeit.de

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Feb 26, 13:09

UniCredit's Commerzbank Stake Faces German Regulatory Scrutiny

UniCredit, an Italian bank, submitted its plans to increase its stake in Commerzbank to Germany's Federal Cartel Office for review, sparking concerns about competition and prompting a rejection from the German government. This follows UniCredit's increase of its shares from 9% to 28% in December, an...

UniCredit's Commerzbank Stake Faces German Regulatory Scrutiny

UniCredit, an Italian bank, submitted its plans to increase its stake in Commerzbank to Germany's Federal Cartel Office for review, sparking concerns about competition and prompting a rejection from the German government. This follows UniCredit's increase of its shares from 9% to 28% in December, an...

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What is the immediate impact of UniCredit's move on the German banking sector and competition?

UniCredit, an Italian bank, submitted its minority stake acquisition in Commerzbank to Germany's Federal Cartel Office for review. The office will assess the deal's competitive impact, with an initial month-long investigation followed by a four-month in-depth review. The European Central Bank's banking supervisory authorities are also reviewing the plans.

kathimerini.gr

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Feb 13, 13:10

German Banking Battle: Commerzbank and UniCredit Fight for Mittelstand

UniCredit and Commerzbank are engaged in a marketing battle to win over Germany's Mittelstand businesses amidst UniCredit's attempted acquisition of Commerzbank, with both banks emphasizing their commitment to the sector and Commerzbank highlighting potential customer losses.

German Banking Battle: Commerzbank and UniCredit Fight for Mittelstand

UniCredit and Commerzbank are engaged in a marketing battle to win over Germany's Mittelstand businesses amidst UniCredit's attempted acquisition of Commerzbank, with both banks emphasizing their commitment to the sector and Commerzbank highlighting potential customer losses.

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What are the key arguments Commerzbank is using to defend against UniCredit's acquisition attempt, and what role does the Mittelstand play in this strategy?

This marketing war reflects a deeper struggle for influence over Germany's Mittelstand, representing three million businesses. Control of these businesses significantly impacts the politically charged debate surrounding Commerzbank's potential acquisition. Commerzbank highlights its existing market leadership (nearly 10% market share in Mittelstand lending) and the risk of client loss if acquired.

welt.de

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Feb 13, 10:10

Commerzbank to Cut 3,900 Jobs to Boost Profit, Resist Takeover

Commerzbank announced plans to cut 3,900 jobs by 2027, primarily in Germany, to boost efficiency and counter a potential takeover bid from UniCredit, while aiming for significantly higher profits and shareholder payouts in coming years.

Commerzbank to Cut 3,900 Jobs to Boost Profit, Resist Takeover

Commerzbank announced plans to cut 3,900 jobs by 2027, primarily in Germany, to boost efficiency and counter a potential takeover bid from UniCredit, while aiming for significantly higher profits and shareholder payouts in coming years.

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What is Commerzbank's immediate response to UniCredit's potential takeover bid, and what are the specific consequences?

Commerzbank, Germany's second-largest private bank, plans to cut 3,900 full-time jobs by the end of 2027 to increase efficiency and counter a potential takeover bid from UniCredit. This will primarily affect its headquarters and other locations in Frankfurt, impacting support functions and back-office roles. The bank aims to maintain its overall workforce of 36,700 through growth in international locations and its Polish subsidiary.

faz.net

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Feb 13, 16:08

Commerzbank to Cut 3,900 Jobs by 2028 to Counter Unicredit and Boost Profits

Commerzbank will cut 3,900 jobs by 2028, including 3,300 in Germany, primarily in central functions, to counter Unicredit's growing influence and boost profits to €4.2 billion by 2028 while maintaining a roughly constant global workforce of 36,700 through attrition and technology adoption.

Commerzbank to Cut 3,900 Jobs by 2028 to Counter Unicredit and Boost Profits

Commerzbank will cut 3,900 jobs by 2028, including 3,300 in Germany, primarily in central functions, to counter Unicredit's growing influence and boost profits to €4.2 billion by 2028 while maintaining a roughly constant global workforce of 36,700 through attrition and technology adoption.

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What is the immediate impact of Commerzbank's planned job cuts, and how does it affect its overall financial strategy?

Commerzbank, headquartered in Frankfurt, Germany, plans to cut 3,900 jobs by 2028, with 3,300 in Germany. Most cuts will affect central and staff functions, impacting Frankfurt's 10,000 employees significantly. The bank aims for a socially responsible process, relying on attrition and demographic change, not forced layoffs.

welt.de

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Feb 11, 16:09

Unicredit Delays Commerzbank Bid, Awaiting New German Government

Unicredit CEO Andrea Orcel is delaying a Commerzbank takeover bid until after Germany's next government is formed, aiming to secure their support and denying anticipated job cuts, while emphasizing a focus on reskilling and investment, citing Unicredit's positive experience in Italy.

Unicredit Delays Commerzbank Bid, Awaiting New German Government

Unicredit CEO Andrea Orcel is delaying a Commerzbank takeover bid until after Germany's next government is formed, aiming to secure their support and denying anticipated job cuts, while emphasizing a focus on reskilling and investment, citing Unicredit's positive experience in Italy.

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How does Unicredit's experience in Italy influence its approach to potential job losses in a Commerzbank takeover?

Orcel's strategy highlights the significant political and economic factors influencing major European banking mergers. His emphasis on securing the new German government's support underscores the political sensitivity of such a deal, while his rebuttal of job cut predictions attempts to address public concerns and potentially garner support. The timeline suggests a calculated approach, balancing business goals with political realities.

repubblica.it

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Feb 11, 10:08

Unicredit Reports Record 2024 Profits; CEO Addresses M&A Speculation

Unicredit reported record 2024 net profits of €9.7 billion, exceeding expectations, while CEO Andrea Orcel addressed potential mergers with Banco BPM and Commerzbank, clarifying the investment in Generali as purely financial.

Unicredit Reports Record 2024 Profits; CEO Addresses M&A Speculation

Unicredit reported record 2024 net profits of €9.7 billion, exceeding expectations, while CEO Andrea Orcel addressed potential mergers with Banco BPM and Commerzbank, clarifying the investment in Generali as purely financial.

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What were the key financial results reported by Unicredit in 2024, and what are the immediate implications for shareholders?

Unicredit's CEO, Andrea Orcel, stated that a potential merger with Banco BPM is not excluded, but requires a significant shift aligning with shareholder metrics. Unicredit's 2024 results showed record profits of €9.7 billion, a 2.2% increase year-on-year, exceeding analyst expectations.

Showing 25 to 36 of 54 results