Citi Analysts See UniCredit-Commerzbank Deal as Likely Outcome
- Citi says market sees 70% probability of a deal at 10% premium
- Commerzbank shares have risen 30% since UniCredit disclosure
This article is for subscribers only.
A merger between UniCredit SpA and Commerzbank AG is likely, despite opposition from the German government, according to analysts at Citigroup Inc.
Citi analysts including Borja Ramirez expect UniCredit will eventually get regulatory approval to increase its stake in Commerzbank and will win the backing of institutional shareholders if it opts to make a tender offer for the German lender.