Commerzbank (CBK GY) on UniCredit (UCG IM), says "No comment"
Analysis details (09:16)
- Pre-market: Bloomberg reported that UniCredit has bought the 4.49% stake that the German Government has sold in Commerzbank, making the bank a major investor; UniCredit is said to own 9% of Commerzbank after the latest purchase, according to Bloomberg. UniCredit is paying approx. EUR 13.20/shr vs last close 12.60/shr. Elsewhere, the CEO is not to seek an extension of his contract; he will fulfil his contract until December 2025, but will not extend it thereafter. German Finance Minister starts selling around 53mln shares in Commerzbank. Following a successful placement, Financial Market Stabilisation Fund (FMS) holding will decrease from approx. 16.5% to 12.0%. Offering price EUR 12.48/shr to market. (Newswires/Bloomberg)
11 Sep 2024 - 09:13- Equities- Source: Newswires
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