UniCredit's Andrea Orcel plays a bold hand, with Commerzbank in his sights
merzbank AG(CRZBY) CNBC·2024-09-12 12:06
UniCredit's CEO Andrea Orcel revealed his hand this week as the Italian lender built a 9% stake in Commerzbank — and a takeover bid for the German rival could still be in the cards. UniCredit faces a number of hurdles before increasing its stake after filing a request to "potentially exceed 9.9% of Commerzbank if and when necessary." Commerzbank shares soared on Wednesday when news of UniCredit's position was announced, and compounded gains on Thursday following speculation of an imminent takeover. "All the ...