Finance
Bankers Give Cold Shoulder to Their Would-Be Suitors in Davos
- Commerzbank, Sabadell continue to resist overtures from rivals
- Dealmakers had hoped the mergers would inch forward in Davos
Attendees walk between venues at the World Economic Forum in Davos.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
Heading into the glitzy World Economic Forum, the thinking was it would be the perfect place for many of the biggest deals in the works among Europe’s lenders to inch their way into existence.
There’s BBVA’s takeover offer for its smaller rival Banco de Sabadell SA, for instance. Or UniCredit SpA’s bid for its domestic competitor Banco BPM SpA as well as its growing interest in Germany’s Commerzbank AG.