The behavior of the potential acquirer was very aggressive, very opaque, untransparent,” Germany’s Jörg Kukies told CNBC of UniCredit’s bid for Commerzbank.

Germany's Commerzbank said on Friday that it posted a 20% increase in net profit in 2024, announcing earnings nearly two weeks ahead of schedule as it fends off interest in a tie-up from Italy's UniCredit.

Germany's Commerzbank has demanded a formal written proposal amid a potential takeover by Italian bank UniCredit. "We have always signalled our willingness to talk and would examine a proposal from UniCredit in the interests of all stakeholders,

"The behavior of the potential acquirer was very aggressive, very opaque, untransparent," Germany's Jörg Kukies told CNBC of UniCredit's bid for Commerzbank. The move by UniCredit, which is ...

UniCredit SpA Chief Executive Officer Andrea Orcel said he was surprised by the backlash in Germany over his efforts to acquire Commerzbank AG, saying his bank was invited to bid and communicated with all sides.

Commerzbank chief Bettina Orlopp shot down an invitation from Andrea Orcel to hold informal talks about a potential tie-up with UniCredit, and has instead insisted on receiving a written proposal before engaging, according to people familiar with the situation.

Italy's UniCredit bank said on Tuesday it would not rush a possible takeover of German rival Commerzbank and was willing to walk away but would wait first for the German election's outcome.

German lender under pressure to cut costs and boost returns after unwanted approach from UniCredit. Read more at straitstimes.com.

BERLIN (Reuters) - Commerzbank reiterated on Friday that it will not meet with UniCredit for formal discussions until it receives a specific proposal from the Italian bank, which has ruffled feathers in Berlin with its interest in a merger.

Launching an unwelcome takeover of a rival bank used to be a sign of dangerous excess. These days, it seems to be the most logical option available to would-be acquirers. Three bids and one possible approach are currently on the table in Europe,

Deutsche Bank reported solid Q4 results with €7.2 billion in revenue, driven by a 30% YoY jump in the investment bank. Read more about DB stock here.

Legal provisions weighed on the bottom line at Germany's largest lender Deutsche Bank, with net profit falling in the fourth quarter.