FRANKFURT (dpa-AFX) - In the event of a potential takeover of Commerzbank, Italy's UniCredit would not have to fear resistance from Germany's top competition watchdog. As recently as April, the Federal Cartel Office had already approved the Italian bank's entry into the Frankfurt-based lender.
When asked about the authority's stance on a possible takeover, Cartel Office chief Andreas Mundt stated that he saw no competition-related concerns. "If a subsequent decision were required, I don't see that we would take a different view--the standards are always the same; that makes no difference," Mundt said.
Previously, it had come to light that UniCredit had become the largest shareholder in Commerzbank, with the German government now only in second place. Furthermore, UniCredit CEO Andrea Orcel hinted at additional bold moves that could bring the Milan-based banking giant closer to making a takeover bid for Commerzbank./wdw/DP/jha
