Commerzbank Tells UniCredit Now Isn't the Time to Discuss a Bid, Sources Say -Reuters
June 24 2019 - 01:21PM
Dow Jones News
--UniCredit S.p.A. (UNCFF), whose plans for a bid on Germany's
Commerzbank AG (CRZBY) were at an advanced stage, has put those
plans on hold after being told by the German lender it wasn't ready
to hold negotiations on a tie-up, Reuters reported Monday, citing
"four sources."
--Commerzbank said it wanted time following the collapse of its
merger talks with Deutsche Bank (DB) before it entertained any
other offers, the report said.
--One of the sources said, "Commerzbank told UniCredit they need
time to think about the best course of action," according to the
report.
--Neither UniCredit nor Commerzbank would comment, the report
said.
Full story:
https://www.reuters.com/article/us-commerzbank-m-a-unicredit-exclusive/exclusive-italys-unicredit-puts-possible-commerzbank-bid-on-ice-for-now-sources-idUSKCN1TP1S0
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
June 24, 2019 13:06 ET (17:06 GMT)
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