Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan

Stock

Commerzbank considers buying domestic rival in UniCredit defence plan, sources say

By John O’Donnell, Emma-Victoria Farr and Tom Sims

LONDON (Reuters) – Commerzbank (ETR:CBKG) is weighing the acquisition of a mid-sized German bank as part of its strategy to fend off a possible takeover by Italy’s UniCredit, three people with knowledge of the matter told Reuters.

The deliberations of an acquisition are at an early stage and possible targets could include Hamburg Commercial Bank (HCOB) or Oldenburgische Landesbank (OLB), said two of the people, who all spoke on condition of anonymity to describe private discussions.

Commerzbank’s considerations to buy a domestic rival are significant because the lender has been trying to devise a defence gameplan, so far revealing little other than saying it was pursuing a standalone strategy.

The topic has been discussed by Commerzbank management, the same two people said. It is unclear whether Commerzbank has reached out to the lenders.

Commerzbank, responding to a request for comment, said it was continuously monitoring opportunities for inorganic growth but declined to comment on potential targets.

OLB and HCOB declined to comment.

This post appeared first on investing.com
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Latest News

    The Gateway Pundit, a far-right website, published a note from its editor on Saturday acknowledging that two election workers in Georgia did not engage...

    Latest News

    New majorities in Congress, particularly when the incoming party has a new leader, offer the rare chance for the institution to take a breath...

    Investing

    JAKARTA (Reuters) -Indonesia has asked Alphabet (NASDAQ:GOOGL)’s Google and Apple (NASDAQ:AAPL) to block Chinese fast fashion e-commerce firm Temu in their application stores in...

    Latest News

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...



    Disclaimer: alivebusinessplan.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 alivebusinessplan.com