Germans Won't Give Up Their Bank: Italians Officially Rejected
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Germany has officially rejected the Italian bank UniCredit’s offer to acquire shares in Commerzbank, the state agency responsible for managing the federal government's stake.
The reasons cited were the offer price, which was considered too low, and concerns about what was described as the Italian bank’s aggressive approach. This decision marks the latest development in the months-long struggle between the two financial institutions over control of one of Germany’s most important banks. The German government owns a 12 percent stake in Commerzbank, acquired during the bank’s bailout following the 2008 global financial crisis, and has
