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Commerzbank says it doesn't see a basis for a deal with Italy's UniCredit.
Commerzbank has rejected UniCredit's takeover approach, citing insufficient value for its shareholders.
KEY POINTS
- UniCredit currently holds about 30% of Commerzbank through direct and indirect stakes.
- UniCredit plans an extraordinary general meeting to approve a capital raise for the takeover.
- Commerzbank claims UniCredit's offer only implies a 4% premium, which it deems inadequate.
COMPANIES
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