Factbox-What might a combination of UniCredit and Commerzbank look like?
11:23 am Friday, September 27th, 2024
MILAN (Reuters) – Executives from UniCredit and Commerzbank held their first meeting on Friday, after the Italian bank this month emerged as the biggest investor in its German peer with a nearly 21% stake, subject to supervisory approval.
At 61 billion euros ($68 billion), UniCredit’s market value is roughly three times Commerzbank’s 19 billion euros.
Shares in Germany’s second-biggest publicly-listed bank have gained 30% since UniCredit unveiled its initial holding on Sept. 10, as markets bet on a full takeover.
UniCredit CEO Andrea Orcel has said a tie-up would be the best thing for both banks but that he will only pursue a deal if it has broad support. If not, UniCredit could sell its stake in Commerzbank.
Below are key figures providing a snapshot of the size and performance of the two banks, and what a combination of the two groups – or of Commerzbank with UniCredit’s German business – might look like.
UniCredit’s German operations comprise mainly HVB, the Bavarian lender it acquired in 2005. HVB in the chart below stands for UniCredit’s German operations.
($1 = 0.8935 euros)
(Reporting by Valentina Za; Editing by Catherine Evans)
