Commerzbank Rejects UniCredit Bid and Criticizes Tactics
Commerzbank rejected UniCredit's takeover bid today and criticized its tactics. CEO Bettina Orlopp said the plan lacks understanding of the business model.
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COMMERZBANK AG has officially rejected a takeover approach from UNICREDIT SPA, characterizing the move by the lender based in Italy as a hostile tactic. The rejection, announced on Monday in Germany, follows a series of public statements in which the Italian bank suggested that its German counterpart should implement measures to improve its operational performance.
