UniCredit May Not Bid for Commerzbank Before July: Jefferies
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UniCredit SpA should hold off making a bid for Commerzbank AG until the second half of next year to avoid triggering a mandatory cash offer, according to analysts at Jefferies Financial Group Inc.
German rules would require UniCredit under certain conditions to complement a potential voluntary exchange offer for Commerzbank shares with an alternative cash offer, the analysts wrote in a note on Friday.