UniCredit Seeks out Advisors for Possible Commerzbank Bid -Reuters

Date : 05/14/2019 @ 3:28PM
Source : Dow Jones News
Stock : Unicredit (UCG)
Quote : 11.214  0.346 (3.18%) @ 4:35PM
Unicredit share price Chart

UniCredit Seeks out Advisors for Possible Commerzbank Bid -Reuters

Unicredit (BIT:UCG)
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--Italy's UniCredit has approached investment bankers and other advisors for advice on a potential takeover bid of Commerzbank, Reuters reports, citing unnamed sources.

--The Italian lender has engaged the investment bank Lazard including its banker Joerg Asmussen, a former German deputy finance minister, as well as JPMorgan on the matter, Reuters says, noting the timing of a potential bid remains unclear.

--UniCredit's management has "long been interested" in expanding its operations in Germany, Reuters reports, citing the sources.

--At 1357 GMT, shares of Commerzbank traded 4.4% higher on the takeover reports.


Full story: https://reut.rs/2YpmFbC


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(END) Dow Jones Newswires

May 14, 2019 10:13 ET (14:13 GMT)

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