Commerzbank Calls UniCredit Move ‘Hostile’ in Escalation
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Commerzbank AG stepped up its rhetoric against the approach from UniCredit SpA, further complicating the situation for the Italian lender.
UniCredit’s strategy of buying and expanding a stake in the lender while considering a takeover bid is “hostile,” a spokeswoman said in an emailed statement Wednesday. It’s the first time Commerzbank has used that term in relation to UniCredit’s approach.