Commerzbank Falls as UniCredit Approach Runs Into Opposition
- Berlin says Commerzbank strategy ‘geared toward independence’
- UniCredit CEO Orcel has said he’s considering a takeover
A Commerzbank AG office in Berlin.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Commerzbank AG shares fell after Germany said it won’t sell any more shares in the lender, prompting traders to scale back bets on a takeover by UniCredit SpA.
Berlin on late Friday announced that it will pause a planned disposal of its stake in Commerzbank, demonstrating its opposition to a takeover by the Italian rival. Shares of Germany’s second-largest lender declined as much as 6.2% on Monday, paring gains since UniCredit made a move on the rival to 17%.