The Italian bank Unicredit (UCG) is ready to make a rival takeover for German Commerzbank (CBK). According to Financial Times, the Unicredit would also merge the Hypo Vereinsbank with Commerzbank at the same time, if the deal gets through.
Deutsche Bank (DBK) and Commerzbank have been discussing regarding the bankmerger for some time now. If this deal is to be finalized, it would create the second largest banking group in the eurozone. On other hand, the future personnel layoffs have caused negative sentiment for the merger among labour unions.
None of the banks did comment the FT story.
The balance of Commerzbank is 462 billion euros and the bank has 13 million customers. The biggest owners in Commerzbank are the German Goverment (15,5%), Cerberus (5%), Blackrock (4%), Vanguard (3,1%), Capital Group Companies (2,9%) and Norges Bank (2,5%).
The bank shares were mixed today, while the Commerzbank was up 3,50 % to 7,41 euros in Germany and the Deutsche Bank was down -1,81% to 7,49 euros. In Milan the shares of Unicredit were down 1,43 % to 12,01 euros. The market cap for the Unicredit is about 27 billion euros.