Commerzbank Reverse Takeover Option Could Address Some Issues — Market Talk
A reverse takeover of Commerzbank, through which it would buy UniCredit's German unit HypoVereinsbank--making the Italian lender its largest shareholder--would tick a number of boxes, RBC Capital Markets says in a note after the UniCredit disclosed its 9% stake in the German lender and hinted at a possible tie-up. This has brought up debate about whether the reverse takeover option--which was reportedly floated and then abandoned in 2022--would be a more palatable solution and address issues recently highlighted in the press. "This transaction would allow Commerzbank to continue to follow its own path, crystallize domestic synergies and to keep a listing in Germany," analyst Anke Reingen and associate Matthew Russell write. They note that it is hard to find a financial sweet spot that is attractive for both parties. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
September 20, 2024 05:08 ET (09:08 GMT)
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