Banks: Orlopp: Commerzbank could take over Unicredit subsidiary HVB
As part of a merger with the Italian major bank, Commerzbank could take over Hypovereinsbank. Through a share exchange, Unicredit could thus expand its stake.
Frankfurt - Commerzbank may consider acquiring Italian UniCredit's Munich subsidiary HVB as part of a potential merger, according to Commerzbank CEO Bettina Orlopp. Orlopp disclosed this possibility during a financial conference on Thursday, suggesting it as one of several options on the table. This move could be executed through a stock exchange deal to increase Unicredit's stake in Commerzbank.
Other potential scenarios include a straightforward merger of the two institutions or UniCredit offering additional shares to the remaining Commerzbank shareholders, likely with a premium, to boost their ownership to over 90 percent. UniCredit has been pursuing Commerzbank for over two years and has secured nearly 50 percent of the Frankfurt-based institution despite domestic opposition. Currently, the two leading banks are engaged in discussions about a possible consolidation.
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