UniCredit planning to make a bid for Commerzbank: FT
FILE PHOTO: A sign for an ATM of Commerzbank is seen next to the headquarters of Deutsche Bank in Frankfurt, Germany, March 19, 2019. REUTERS/Kai Pfaffenbach/File Photo
The Italian lender plans to buy a sizeable stake in Commerzbank and merge it with HypoVereinsbank, the German lender it already owns, the paper said, citing people familiar with the matter.The combined entity would be based in Germany while UniCredit would maintain its headquarters and listing in Milan, the report said.
Germany’s two top banks, Deutsche Bank and Commerzbank, said on March 17 that they were in talks to merge.
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