Unicredit prepares offer for Commerzbank if talks with Deutsche fail

Written by Oliver Wade

Italian bank Unicredit is preparing a multi-billion-euro offer to Commerzbank as Deutsche Bank supposedly faces troubles in its discussions.

The Financial Times reported that Unicredit has developed plans to acquire a large stake in Commerzbank and merge it with another German lender under its ownership, HypoVereinsbank.

However, despite Germany’s desire to create a “national banking champion”, and the two enders engaging in discussions last month, the potential merged bank, which would become the second largest lender in the Eurozone, has faced opposition from trade unions and major investors.

Deutsche Bank shares recently dropped further amid reports it had discussed raising up to €10bn of fresh equity to fund part of the proposed Commerzbank deal.

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