Commerzbank (CBK.DE) shares are up 16% in today's European session after UniCredit SpA (UCG.IT) took a 9% stake in Commerzbank AG and plans to begin talks with the bank, raising the possibility of a takeover that could change the European distribution of power in the banking sector. The Italian bank acquired a 4.5% stake from the German government and bought the rest on the open market, a statement said today.
UniCredit said it will seek permission to further increase its stake in the bank. Although any such move will depend on whether the investment meets its “financial parameters.” It is worth recalling that UniCredit already owns a large bank in Germany known as Hypovereinsbank, laying the groundwork for UniCredit to build a powerful force in corporate and retail banking in Germany.
إبدأ بالإستثمار اليوم أو تدرّب على حساب تجريبي
إنشاء حساب حساب تجريبي تحميل تطبيق الجوال تحميل تطبيق الجوال
Commerzbank shares are trading 16% higher intraday after UniCredit's statement (+1.3% intraday). Source: xStation
