Commerzbank: Now the Federal Cartel Office is also getting involved
Next capital in the takeover thriller surrounding Commerzbank. The Italian UniCredit has submitted a stake of up to 29.99 percent for review. In addition to the ECB, the Federal Cartel Office is now also examining the Italian major bank's stake in its Frankfurt-based competitor.
Next capital in the takeover thriller surrounding Commerzbank. UniCredit has registered its entry with the Federal Cartel Office for review. Specifically, it concerns a minority stake of up to 29.99 percent in Germany's second-largest private bank. The competition authorities are now examining the effects of the deal on the German banking market.
The Federal Cartel Office can take up to a month to make an initial assessment. If necessary, an in-depth examination could extend the process by a further four months. The project has been on the list of ongoing proceedings since Monday.
Commerzbank shares are relatively unaffected by the news. In the early afternoon, Commerzbank shares are showing a small increase. This means that the stock remains above the 20.00 euro mark.
Given the strong position of the Italians in Germany through their subsidiary HypoVereinsbank, an antitrust investigation is anything but surprising. For investors, however, the main focus is on the question of a complete takeover.
But it is not just the Federal Cartel Office that is taking a close look: the ECB banking supervisory authority is also examining the case. Background: Anyone who wants to acquire more than ten percent of a bank must undergo a strict suitability test. The sticking point, however, is likely to be the approval of the stakeholders. The Commerzbank management, the works council, the unions and the federal government officially reject UniCredit's approach. In terms of charts, things are still looking good. The upward trend of the Commerzbank share is fully intact.
Commerzbank shares have recently performed strongly. Speculative investors can still build up a position. The potential has not yet been exhausted, especially in view of the recently announced targets for the coming years. In addition, there is still a takeover fantasy.
Note on conflicts of interest The board member and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has directly and indirectly taken positions in the following financial instruments mentioned in the publication or derivatives related to them, which can benefit from any price development resulting from the publication: Commerzbank.
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