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What will be the outcome of Commerzbank's board meeting on UniCredit's merger proposal by the end of 2024?
3
Resolution / Starting Odds
Approve merger with UniCredit • 25%
Reject merger with UniCredit • 25%
Postpone decision • 25%
Other outcome • 25%
Official announcements from Commerzbank or regulatory filings
Story
UniCredit Acquires 9% Stake in Commerzbank, Sparking Merger Talks and Labor Union Opposition
Sep 11, 2024, 01:17 PM
UniCredit has acquired a 9% stake in Commerzbank, making it the German lender’s second-biggest investor. This move has brought Andrea Orcel full circle and caught the German government off guard, placing Chancellor Olaf Scholz in a difficult position. UniCredit CEO Andrea Orcel has approached Commerzbank’s management to explore merger talks, with Commerzbank holding a board meeting to discuss the proposal. German labor union Ver.di has urged the government to stop selling shares in Commerzbank and block any potential acquisition by UniCredit. In response, Commerzbank has tapped Goldman Sachs to advise on its options and is preparing a defense strategy. This development is seen as part of a broader push for European banking consolidation, with the labor union vowing to fight the move tooth and nail.
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Approve merger • 25%
Reject merger • 25%
Request further negotiations • 25%
No decision made • 25%
Merger Announced • 25%
No Merger Announced • 25%
Talks Ongoing • 25%
Talks Terminated • 25%
Approved • 25%
Rejected • 25%
Modified terms • 25%
No decision • 25%
Increased stake to 30% without takeover • 25%
Launched a takeover bid • 25%
Reduced stake below 28% • 25%
Maintained stake at 28% • 25%
Approved without conditions • 25%
Approved with conditions • 25%
Rejected • 25%
No decision by deadline • 25%
Supportive of UniCredit's stake • 25%
Neutral stance • 25%
Opposed to UniCredit's stake • 25%
Initiated defensive measures • 25%
Permission granted • 25%
Permission denied • 25%
Decision pending • 25%
UniCredit withdraws request • 25%
Supportive • 25%
Neutral • 25%
Opposed • 25%
No significant reaction • 25%