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#Takeover
Euronews English @euronews.com Β· Lyon πŸ‡«πŸ‡· Β· 1h

Commerzbank has announced plans to cut 3,000 jobs and set higher profit targets in response to UniCredit's takeover bid, while emphasizing the importance of maintaining its business model in light of the Italian bank's aggressive ambitions. #Banking #JobCuts #Takeover #DE #IT

www.euronews.com
Commerzbank axes 3,000 jobs as it battles UniCredit takeover bid
Commerzbank has unveiled plans to cut a further 3,000 jobs while sharply raising its profit targets in a direct response to UniCredit's takeover ambitions.
R
Reuters @reuters.com Β· London πŸ‡¬πŸ‡§ Β· 2d

As UniCredit seeks to acquire Commerzbank, German government officials are contemplating increasing their stake in the bank, currently at 12%, using state bank KfW to potentially block the takeover due to Commerzbank's strategic importance to Germany's economy, though financial and political challenges remain. #Banking #Finance #Takeover #DE #IT #US #CN

www.reuters.com
Germany ponders last-ditch plan to thwart Italian bid for Commerzbank
FRANKFURT, May 6 (Reuters) - As UniCredit prepares to take over Commerzbank, some members of Germany's government are examining a drastic step to fend off the unwanted Italian bidder by taking a bigger stake in a lender Berlin considers strategic, people involved in the matter said.