Latest news with #UniCredit
Bloomberg
2 days ago
- Business
- Bloomberg
Merz Warns of Financial Risks From UniCredit-Commerzbank Tie-Up
German Chancellor Friedrich Merz reiterated his opposition to UniCredit SpA 's bid to take over Commerzbank AG, criticizing the Italian lender's 'unfriendly approach' and warning a combination could carry financial risks. Asked about the issue at a news conference in Berlin Friday, Merz explained that his 'reservations' about UniCredit's move for Germany's second-biggest bank are twofold.
Bloomberg
3 days ago
- Business
- Bloomberg
Italy's Market Authority Mulls Pausing UniCredit's Banco BPM Bid
Italy's market regulator Consob is analyzing whether to suspend UniCredit SpA's takeover bid for Banco BPM SpA, after an Italian court challenged some of the requirements imposed by the government on the deal. 'We are reviewing' the matter, Consob Chairman Paolo Savona told reporters in Rome, answering questions on whether the regulator may further delay the deadline for the bid, newswire Radiocor reported. The offer period is currently set to end July 23.
Yahoo
3 days ago
- Business
- Yahoo
Commerzbank employees voice UniCredit deal concerns in Brussels
FRANKFURT (Reuters) -A delegation of employee representatives from Commerzbank met with members of the European Parliament to voice their concerns about a possible takeover by UniCredit, according to a social media post on Thursday and two people with knowledge of the matter. Italy's UniCredit last week doubled its shareholding in the German lender as it pushes for a tie-up between the banks, despite resistance from Commerzbank management, employees and the German government. "We made clear that a takeover would not be progress towards a European banking union," Commerzbank supervisory board member Nina Olderdissen said in a post on LinkedIn about the Brussels meetings. "What may seem like a step towards European integration actually harbors considerable risks for employees, customers and investors on both sides - without any discernible added value," she wrote. UniCredit first emerged as big investor in Commerzbank in September. Its CEO, Andrea Orcel, has said a deal "would create a new national banking champion for Germany", aiding "the revitalisation of the German economy".
Reuters
3 days ago
- Business
- Reuters
Commerzbank employees voice UniCredit deal concerns in Brussels
FRANKFURT, July 17 (Reuters) - A delegation of employee representatives from Commerzbank ( opens new tab met with members of the European Parliament to voice their concerns about a possible takeover by UniCredit ( opens new tab, according to a social media post on Thursday and two people with knowledge of the matter. Italy's UniCredit last week doubled its shareholding in the German lender as it pushes for a tie-up between the banks, despite resistance from Commerzbank management, employees and the German government. The outreach marks a new front in the defense against the advances of UniCredit, which first emerged as a big investor in Commerzbank in September. "We made clear that a takeover would not be progress towards a European banking union," Commerzbank supervisory board member Nina Olderdissen said in a post on LinkedIn about the Brussels meetings. "What may seem like a step towards European integration actually harbors considerable risks for employees, customers and investors on both sides - without any discernible added value," she wrote. Commerzbank and UniCredit declined to comment. Unicredit's CEO, Andrea Orcel, has said a deal "would create a new national banking champion for Germany", aiding "the revitalisation of the German economy".
Finextra
4 days ago
- Business
- Finextra
UniCredit taps Wise Platform for cross-border retail payments service
Italian bank UniCredit has partnered Wise to develop an international payment service for retail customers. 0 UniCredit is the first major bank in Europe to tap into the Wise Platform, which is powered by more than 70 licenses and six direct connections to payment systems globally, enabling cross-border payments to some 160 countries and over 40 currencies, with 65% of transfers settled in 20 seconds or less. From this month, Italian retail customers will be able to enables international transfers from euros into several foreign currencies, with the same speed and simplicity as domestic payments, from the bank's app. Initially, payments can be sent to recipients in selected countries, including the UK (GBP), Switzerland (CHF), Hong Kong (HKD), Singapore (SGD) and India (INR), with more currencies in development. The service will be rolled out to customers in other countries in the near future. Raphael Barisaac, global head, payments and cash management, UniCredit, says: 'Our customers expect simple, fast and transparent solutions at an affordable cost, even when it comes to complex transactions such as international wire transfers. This new service was created to meet exactly these needs and represents a fundamental step in this direction.'
