UniCredit's Andrea Orcel plays a bold hand, with Commerzbank in his sights
CRZBYmerzbank AG(CRZBY) CNBC·2024-09-12 20:06

UniCredit's CEO Andrea Orcel revealed his hand this week as the Italian lender built a 9% stake in Commerzbank — and a takeover bid for the German rival could still be in the cards.UniCredit faces a number of hurdles before increasing its stake after filing a request to "potentially exceed 9.9% of Commerzbank if and when necessary." Commerzbank shares soared on Wednesday when news of UniCredit's position was announced, and compounded gains on Thursday following speculation of an imminent takeover."All the o ...