UniCredit wants to take control of Commerzbank
While Deutsche Bank is facing troubles with its move to buy Commerzbank, Italy’s UniCredit was named as a potential alternative bidder for the German lender. UniCredit could explore a merger with Commerzbank if talks with Deutsche fall through.
Deutsche and Commerzbank divided over the pace of their merger talks
Stocks impacted: UniCredit SpA (UCG), Commerzbank (CBK), Deutsche Bank (DBK)
As a reminder, Deutsche and Commerzbank announced talks on March 17 and they were proceeding well but “very carefully”. Yesterday, it was reported that the two German lenders were divided over the pace of their merger talks. Commerzbank would like to see a speedy decision on whether to deepen the discussions or not, while Deutsche Bank needs more time. Shares in Commerzbank were up 3.6 percent in pre-market trade, while Deutsche Bank stock was seen opening 0.4 percent higher but then turned 1.6 percent lower.
Make profit on it right now!