ING Group has approached Commerzbank about a possible tie-up, a German magazine reported on Tuesday, April 16. Manager Magazin, citing unnamed sources, reported that ING made the approach to the German government, which owns a stake in the German lender, and to Commerzbank CEO Martin Zielke. But Zielke declined to engage in formal talks, the report stated.
ING is the second European lender to show appetite for Commerzbank. In early April, the Financial Times reported that Italian rival UniCredit was preparing a rival bid to take control of Commerzbank should merger talks with Deutsche Bank collapse.
A person close to a large shareholder of Deutsche Bank told the Financial Times on Tuesday that the odds of a merger with Commerzbank were shrinking, given the complexity of a potential deal, resistance form staff unions, and the potential need to raise up to €10 billion (US$11.3 billion) of fresh equity. “The odds that a merger will happen have fallen from 80 to 60%,” that person said.
Full Content: Financial Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Extends Support for Farms and Fisheries Amid Market Disruptions
May 5, 2024 by
CPI
Sony and Apollo Bid $26 Billion for Paramount Acquisition
May 5, 2024 by
CPI
Goldman Sachs Resolves Decade-Old Metal-Rigging Class Action Lawsuit
May 5, 2024 by
CPI
Italian Antitrust Ruling Puts Halt on Intesa Sanpaolo’s Fintech Ambitions
May 5, 2024 by
CPI
Google Antitrust Case: Closing Arguments Conclude
May 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI