UniCredit approach prompts doubt over Commerzbank’s buyback plans

Commerzbank has discussed the future of its share buyback programme after Italian lender UniCredit built a 9 per cent stake in the German bank in what could be the opening move of a full takeover bid. [...]
 

Fabio De Masi, a member of the European parliament for the newly created leftwing Sahra Wagenknecht Alliance, said: “Germany’s economy is currently exposed to large shocks and we need reliable financiers for small and medium-sized companies.” He added UniCredit already owned Munich-based HypoVereinsbank and a tie-up with Commerzbank could lead to “a high degree of market concentration on the banking market with risks for financial stability”.

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Links:

1. https://www.ft.com/content/eb6c88e9-e169-44f0-a3a3-b238cdc82fdb