The German bank named its next CEO on Tuesday. The lender’s board decried a sudden buy-up of stock by Italy’s UniCredit, which may be looking for a cross-border path to take on Wall Street.
Stefan Wittmann, who is also a senior official at German trade union Verdi, told CNBC’s Annette Weisbach that “we certainly hope we can avoid” a hostile takeover by the Italian bank.
UniCredit Chief Executive Andrea Orcel has succeeded in uniting Germany's political establishment in opposition to his stakebuilding in Commerzbank , the country's second largest lender.
That seems the logic underlying UniCredit’s pursuit of Germany’s Commerzbank. The Italian lender, led by M&A banker turned bank boss Andrea Orcel, has said it would not launch a hostile offer for ...
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