{"id":6092,"date":"2024-09-12T12:43:52","date_gmt":"2024-09-12T11:43:52","guid":{"rendered":"http:\/\/laboite.ma\/?p=6092"},"modified":"2024-09-12T12:43:52","modified_gmt":"2024-09-12T11:43:52","slug":"germany-knew-unicredit-had-4-5-commerzbank-stake-orcel-says","status":"publish","type":"post","link":"https:\/\/www.laboite.ma\/en\/marketing-experience\/germany-knew-unicredit-had-4-5-commerzbank-stake-orcel-says\/","title":{"rendered":"Germany Knew UniCredit Had 4.5% Commerzbank Stake, Orcel Says"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.bloomberg.com\/quote\/UCG:IM\" target=\"_blank\" rel=\"noreferrer noopener\">UniCredit SpA<\/a>\u2019s investment in&nbsp;<a href=\"https:\/\/www.bloomberg.com\/quote\/CBK:GR\" target=\"_blank\" rel=\"noreferrer noopener\">Commerzbank AG<\/a>&nbsp;shouldn\u2019t have come as a surprise to the relevant parties, the Italian lender\u2019s Chief Executive Officer&nbsp;Andrea Orcel&nbsp;said in a bid to address some concerns after disclosing a 9% stake in the German bank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The German government was \u201cwell aware\u201d that UniCredit had already built up a 4.5% stake in Commerzbank before buying the additional holdings directly from the German state earlier this week, Orcel said in a Bloomberg Television interview on Thursday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The purchase, which could be the opening move of a potential full takeover, shouldn\u2019t have \u201csurprised anybody\u201d given UniCredit had been transparent on its M&amp;A plans \u201cfor a long time,\u201d he added.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">UniCredit\u2019s disclosure of its swelling stake in Commerzbank on Wednesday jolted much of Germany, with people familiar with the matter telling Bloomberg News that Berlin had no advance warning that the Italian firm would swoop in to buy the tranche it offered for sale. Orcel\u2019s comments highlight how he\u2019s seeking to push back against the perception that he bypassed the German government in his effort to build a European banking giant.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Read More:&nbsp;<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-11\/german-government-wrong-footed-by-unicredit-move-on-commerzbank\" target=\"_blank\" rel=\"noreferrer noopener\">Germany Wrong-Footed by Shock UniCredit Move on Commerzbank<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Germany had expected that a slew of different investors would purchase the Commerzbank shares it\u2019s offloading after acquiring them in a crisis-era bailout, Bloomberg News reported earlier. A powerful German labor union known as Verdi has said it\u2019s opposed to a potential acquisition of Commerzbank by UniCredit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe participated in a transparent process and we were selected to buy the stake\u201d from the government, which implies it saw no issue with UniCredit coming in, Orcel said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI would have thought all the relevant stakeholders were well aware of what we were doing,\u201d Orcel said. \u201cWe would not have moved otherwise.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>UniCredit SpA\u2019s investment in&nbsp;Commerzbank AG&nbsp;shouldn\u2019t have come as a surprise to the relevant parties, the Italian lender\u2019s Chief Executive Officer&nbsp;Andrea Orcel&nbsp;said in a bid to address some concerns after disclosing a 9% stake in the German bank. The German government was \u201cwell aware\u201d that UniCredit had already built up a 4.5% stake in Commerzbank before [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":6093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29],"tags":[],"class_list":["post-6092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing-experience"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.2 (Yoast SEO v26.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Germany Knew UniCredit Had 4.5% Commerzbank Stake, Orcel Says | La Bo\u00eete<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.laboite.ma\/marketing-experience\/germany-knew-unicredit-had-4-5-commerzbank-stake-orcel-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Germany Knew UniCredit Had 4.5% Commerzbank Stake, Orcel Says\" \/>\n<meta property=\"og:description\" content=\"UniCredit SpA\u2019s investment in&nbsp;Commerzbank AG&nbsp;shouldn\u2019t have come as a surprise to the relevant parties, the Italian lender\u2019s Chief Executive Officer&nbsp;Andrea Orcel&nbsp;said in a bid to address some concerns after disclosing a 9% stake in the German bank. The German government was \u201cwell aware\u201d that UniCredit had already built up a 4.5% stake in Commerzbank before [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.laboite.ma\/marketing-experience\/germany-knew-unicredit-had-4-5-commerzbank-stake-orcel-says\/\" \/>\n<meta property=\"og:site_name\" content=\"La Bo\u00eete\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/laboite\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-12T11:43:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.laboite.ma\/wp-content\/uploads\/2024\/09\/1x-1.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Omar Ouazzani Chahdi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@laboite\" 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