UCG.MI
$63.82-0.32 (-0.50%)
UniCredit S.p.A.
Intraday
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UniCredit CEO Vows to Be More Proactive on Commerzbank After Offer
Andrea Orcel’s comments leave the door open to UniCredit revising the terms of its takeover offer if the banks can agree on a common plan.
UniCredit CEO says has 'relatively constructive' approach to digital euro
The introduction of the digital euro will have a negative impact on banks' liquidity and profit margins by taking away a portion of retail deposits, which are the cheapest source of funding, UniCredit CEO Andrea Orcel said. Speaking at a Morgan Stanley conference in London, Orcel said UniCredit was interacting "significantly" with the ECB to ensure that the central bank can pursue its monetary sovereignty goals through the digital euro without an excessively negative impact on banks. "We're relatively constructive" Orcel said.
Commerzbank CEO says UniCredit's offer is very low
<body><p>STORY: Commerzbank CEO Bettina Orlopp said on Tuesday that an offer by Italy's UniCredit to buy its shares was "very low".</p><p>She also complained that the Italian bank was keeping it in the dark on its vision for a tie-up.</p><p>The development underscores the German lender's long-held reluctance about any takeover deal.</p><p>Orlopp called the lack of a specific plan from UniCredit "strange".</p><p>And said that she would need to see a draft that includes details on efficiencies, costs, speed of integration.</p><p>UniCredit on Monday cranked up the pressure on Commerzbank to accept merger talks with a low-ball bid to raise its stake in the German lender above 30%.</p><p>German takeover laws mandate a full buyout offer once a suitor crosses the 30% ownership threshold in a company. </p><p>UniCredit's offer valued Commerzbank at over $40 billion.</p></body>
Commerzbank CEO Slams UniCredit’s Surprise Stake Plan, Calls Price “Very Low” at Conference
Commerzbank (ETR:CBK) CEO Bettina Orlopp said UniCredit’s newly disclosed intention to increase its stake in the German lender came as a surprise and was not coordinated with Commerzbank in advance, describing the move as “not pre-aligned” and learned “same as everybody else…via ad hoc.” Speaking in
Commerzbank CEO Surprised by ‘Low Price’ of UniCredit Offer
The comments came a day after UniCredit—Commerzbank’s largest shareholder—offered to buy all the shares in the German bank it didn’t already own.