Turin, 16 March (LaPresse) – UniCredit ‘has announced the launch of a voluntary public exchange offer for Commerzbank shares’. This is stated in a press release. “The Offer is aimed at exceeding the 30% threshold required by German legislation on takeover bids, as well as facilitating, in the coming weeks, a constructive dialogue with Commerzbank and its key stakeholders,” adds UniCredit, which expects to achieve “a stake in Commerzbank of more than 30%, without, however, acquiring control. This would allow UniCredit to avoid having to constantly adjust its stake to remain below the 30% threshold due to Commerzbank’s ongoing share buyback programme, as well as to subsequently increase its stake freely on the market or by other means.”
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