The European Central Bank is poised to give Italy's UniCredit the green light to build up its stake in German rival Commerzbank, a person familiar with the matter told Reuters, a move that could pave the way for Europe's biggest cross-border banking deal since the global financial crisis.
UniCredit's Russian subsidiary last year sued the Italian bank's own German arm as part of a court case relating to guarantee payments in Russia which UniCredit could not honour because of sanctions,
UniCredit, Commerzbank and Germany
· 1d · on MSN
German antitrust watchdog weighs UniCredit move on Commerzbank
German regulator assesses UniCredit bid for stake in Commerzbank, Reuters says
UniCredit (UNCRY) reported its planned acquisition of a 29.99% minority stake in Commerzbank (CRZBY) to the German Cartel Office for
German antitrust body probes UniCredit plans for Commerzbank stake
New capital requirements for UBS could be delayed by years after Switzerland’s finance ministry announced plans on Wednesday to shift key decisions to parliament, with a possible referendum pushing final approval to 2028.
UniCredit SpA increased Chief Executive Officer Andrea Orcel’s pay by one third, further cementing his status as one of Europe’s best-paid bankers after he led the Italian bank to a record year.
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