Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

Germany must oppose UniCredit takeover of Commerzbank, bank employees and union warn

admin by admin
September 20, 2024
in Economy
0
Germany must oppose UniCredit takeover of Commerzbank, bank employees and union warn
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

FRANKFURT (Reuters) -Commerzbank employees and a prominent labour union on Friday called on the German government to oppose a takeover of the German lender by Italy’s UniCredit.

The joint statement from the Commerzbank (ETR:CBKG) works council and the Verdi union marks the starkest opposition yet by employee representatives of a possible tie-up between the two banks.

The two groups said they were calling on the government “to work together with employees for a strong, independent Commerzbank”.

The appeal comes days after the Italian bank announced it had bought a 9% stake in Commerzbank – from the German government and the open market – and its leader said he would be keen to explore a merger.

The German government, which still owns a 12% stake in Commerzbank, will play a key role in whether any deal can take place.

“We call on the German government not to make any hasty decisions regarding the sale of its shares,” said Uwe Tschaege, the chairman of Commerzbank’s works council.

German Finance Minister Christian Lindner, whose ministry manages the government’s Commerzbank holding, said on Thursday that the government does not want to stay permanently invested in a bank.

But the government does not currently plan further sales, sources have told Reuters, and Commerzbank has also asked the government to retain its stake for now.

This post appeared first on investing.com

Previous Post

India’s Nifty, Sensex outperform most global markets, behind only Wall Street

Next Post

Investment advisers urge clients away from cash after Fed rate cut

admin

admin

Next Post
Investment advisers urge clients away from cash after Fed rate cut

Investment advisers urge clients away from cash after Fed rate cut

Trending News

How billionaire Caltagirone could influence Italy’s banking M&A wave

How billionaire Caltagirone could influence Italy’s banking M&A wave

May 25, 2025
Japan’s passport ranks No. 2 globally, yet only 17.5% of citizens have one

Japan’s passport ranks No. 2 globally, yet only 17.5% of citizens have one

February 22, 2025
What’s the impact of RFK Jr as new head of HHS on the U.S. Food sector?

What’s the impact of RFK Jr as new head of HHS on the U.S. Food sector?

November 23, 2024
Subscribe to Insightful Word


    Recent News

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    June 5, 2025
    Ripple releases $2.18B in XRP, price dips 2%

    Ripple releases $2.18B in XRP, price dips 2%

    June 5, 2025
    Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    June 5, 2025
    Why Bank of America sees 13% upside on Roblox (RBLX)

    Why Bank of America sees 13% upside on Roblox (RBLX)

    June 5, 2025

    Recent News

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    June 5, 2025
    Ripple releases $2.18B in XRP, price dips 2%

    Ripple releases $2.18B in XRP, price dips 2%

    June 5, 2025

    Latest News

    • ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant
    • Ripple releases $2.18B in XRP, price dips 2%
    • Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.