UniCredit: denies rumours relating to Commerzbank
(CercleFinance.com) - No banking mandate has been signed relating to any potential rumoured market operation, UniCredit said on Wednesday, denying rumours of a bid for Germany's Commerzbank.
The Italian lender said that it has made this announcement at the request of the Italian market autorithies, after media speculation reported that UniCredit was preparing a potential bid on Commerzbank by hiring investment banks.
Analysts at French brokerage Oddo say that the statement maintains M&A speculation around Commerzbank after the failed negotiations with Deutsche Bank last month.
The Milan-listed UniCredit shares were down 1.7% this morning after losing 2.4% yesterday. Meanwhile, in Frankfurt, Commerzbank shares are down 1.8%, after jumping 4.3% on Tuesday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Italian lender said that it has made this announcement at the request of the Italian market autorithies, after media speculation reported that UniCredit was preparing a potential bid on Commerzbank by hiring investment banks.
Analysts at French brokerage Oddo say that the statement maintains M&A speculation around Commerzbank after the failed negotiations with Deutsche Bank last month.
The Milan-listed UniCredit shares were down 1.7% this morning after losing 2.4% yesterday. Meanwhile, in Frankfurt, Commerzbank shares are down 1.8%, after jumping 4.3% on Tuesday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.