UniCredit preparing to bid for Commerzbank AG

UniCredit’s bid for Commerzbank AG is despite the fact that the latter is negotiating merger talks with Deutsche Bank. UniCredit aims to merger Commerzbank with its HypoVereinsbank.

On Thursday, as per a report by the Financial Times, UniCredit SpA is preparing a bid to take control of Commerzbank AG; the move comes midst the German bank holding ongoing merger talks with Deutsche Bank.

According to the FT report which cites sources familiar with the matter at hand, UniCredit plans on acquiring a sizeable stake in Commerzbank and merge it with HypoVereinsbank.

While UniCredit declined to comment on the report, Commerzbank was not immediately available for comment.

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