UniCredit’s Commerzbank Bid Sapped by Berlin Pushback, KBW Says

The German government’s opposition to a takeover of Commerzbank AG by UniCredit SpA means the chances of the deal happening are falling, KBW analyst Thomas Hallett said in a note to clients on Monday.

The “receding” likelihood is partly why there are “few reasons to believe Commerzbank will continue to outperform the wider sector,” Hallett added. He downgraded the stock to “market perform.”