{
}
German antitrust authorities have set an April 14 deadline for initial approval of UniCredit's application to acquire a substantial stake in Commerzbank. The process is reportedly taking longer than anticipated, according to UniCredit's CEO.
German antitrust authorities have set an April 14 deadline for a potential initial approval of UniCredit's application to acquire a significant stake in Commerzbank. The CEO of UniCredit noted that the authorization process is taking longer than anticipated.
German antitrust authorities have set an April 14 deadline for initial approval of UniCredit's application to acquire a significant stake in Commerzbank. The process is reportedly taking longer than anticipated, according to UniCredit's CEO.
Commerzbank reported a 20% increase in net profit for 2024, reaching 2.68 billion euros, surpassing analyst expectations. The bank announced a share buyback of 400 million euros and raised its dividend to 65 cents per share. Amid interest from UniCredit for a potential tie-up, Commerzbank emphasized its commitment to independence and competitiveness.
Unicredit is banking on the support of Germany's new federal government in its pursuit of Commerzbank, as previous government resistance hindered its plans. CEO Andrea Orcel expressed hope for a favorable outcome by summer, noting that Unicredit currently holds about 28% of Commerzbank shares. However, he warned that a lack of change in government stance could lead to Unicredit withdrawing its interest.
The Cologne public prosecutor's office is preparing new charges related to the Cum-Ex tax scandal, focusing on Deutsche Bank and former WestLB, amid ongoing investigations involving around 1,700 suspects. The authorities aim to prevent the statute of limitations from expiring, although it has already lapsed in some cases. The scandal, which involved banks facilitating multiple refunds of capital gains tax on dividends, has resulted in significant financial losses for the German state.
Matthias Inverardi
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
German regulator sets April deadline for UniCredit Commerzbank stake approval
12:20 19.03.2025
german regulator sets april deadline for unicredit comdirect stake approval
Euro
UniCredit S.p.A.
Commerzbank AG
DEU
ITA
Matthias Inverardi
Tom Sims
Matthias Williams
Show more
12:20 19.03.2025
German regulator sets April deadline for UniCredit Commerzbank stake approval
Euro
UniCredit S.p.A.
Commerzbank AG
DEU
ITA
Matthias Inverardi
Tom Sims
Matthias Williams
Show more
12:17 19.03.2025
Commerzbank reports record profit amid UniCredit takeover interest
Euro
UniCredit S.p.A.
Commerzbank AG
DEU
ITA
Matthias Inverardi
Tom Sims
Christina Fincher
Louise Heavens
Matthias Williams
Bettina Orlopp
Show more
15:05 31.01.2025
unicredit seeks german government support for commerzbank acquisition plans
15:56 22.01.2025
Cologne prosecutor prepares new charges in ongoing cum-ex tax scandal
13:52 22.01.2025
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Banking Regulations
Retail and Consumer Goods
Global Financial Events
Finance Mergers & Acquisitions
CEO Changes
Industry Mergers & Acquisitions
Startups & Entrepreneurship
Market Analysis and Predictions
Financial Scams and Security
Supply Chain Management
Global Trade Developments
Central Bank Actions
Government Policies
Government Economic Policies
Workplace Trends
Hedge Funds & Private Equity
Energy Sector Developments
Countries:
Companies:
JPMorgan Chase & Co.
Tesla, Inc.
The Goldman Sachs Group, Inc.
Barclays PLC
Bank of America Corporation
Deutsche Bank Money Market PP
Wells Fargo & Company
Morgan Stanley
Citigroup Inc.
Credit Suisse Strategic Income I
Commerzbank AG
UBS Group AG
Apple Inc.
Amazon.com, Inc.
UniCredit S.p.A.
NVIDIA Corporation
BNP Paribas SA
Lloyds Banking Group plc
Google Inc.
Basler Kantonalbank
Currencies:
United States Dollar
Euro
Swiss Franc
British Pound Sterling
Chinese Yuan
Indian Rupee
Canadian Dollar
Japanese Yen
United Arab Emirates Dirham
Swedish Krona
Australian Dollar
Mexican Peso
Hong Kong Dollar
Brazilian Real
Danish Krone
Offshore Chinese Yuan
Russian Ruble
Singapore Dollar
Thai Baht
Indonesian Rupiah
People: