November 7, 2024

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Germany’s finance minister underscores concern over Commerzbank takeover approach to Italy, say sources #ItalyFinance

Germany’s finance minister underscores concern over Commerzbank takeover approach to Italy, say sources #ItalyFinance

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Germany’s finance minister underscores concern over Commerzbank takeover approach to Italy, say sources


















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Reuters

Germany’s finance minister underscores concern over Commerzbank takeover approach to Italy, say sources

EXCLUSIVE-Germany’s finance minister underscores concern over Commerzbank takeover approach to Italy, say sources

By John O’Donnell

BERLIN, Sept 27 (Reuters) –Germany’s finance minister has underscored to Italy’s Treasury his concerns over anyhostile takeover of Commerzbank CBKG.DE by Italy’s UniCredit CRDI.MI in recent days, according to two people familiar with the matter, in a wider bid by Berlin to halt a hostile takeover.

Lindner outlined his position directly to Italy’s Treasury,in tandem with Germany’s chancellor Olaf Scholz’s public criticism this week, as they sought to put the brakes on a takeover of a bank central to financing the country’s Mittelstandthe medium-sized firms that form the backbone of the economy.

Reporting by John O’Donnell; Editing by Elisa Martinuzzi and Tom Sims

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