UniCredit and Commerzbank Meeting

Executives from UniCredit and Commerzbank held their first meeting on Friday. This follows UniCredit emerging as the largest investor in Commerzbank, holding a near 21% stake, pending supervisory approval.

Market Value

UniCredit’s market value stands at €61 billion ($68 billion), in contrast to Commerzbank’s €19 billion.

Share Performance

Commerzbank’s shares have risen 30% since UniCredit announced its stake on September 10, with market speculation on a complete takeover.

CEO’s Stance

UniCredit CEO Andrea Orcel expressed that a merger would be beneficial for both banks, but will only proceed if there is broad support. Otherwise, UniCredit may choose to divest its stake in Commerzbank.

Key Operations

UniCredit’s German operations are largely comprised of HVB, the Bavarian lender it acquired in 2005.

Note: ($1 = 0.8935 euros)