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Commerzbank and Muller: A marriage of convenience?
Ist Teil von
Euromoney, 2007-03, p.1
Ort / Verlag
London: Euromoney Trading Limited
Erscheinungsjahr
2007
Link zum Volltext
Quelle
BSC - Ebsco (Business Source Ultimate)
Beschreibungen/Notizen
May 1 2004 might turn out to have been one of the more decisive recent milestones in the evolution of the German financial services sector. That was the day when board members of Commerzbank and HVB met at a hotel at Frankfurt Airport to discuss their merger plans. Commerzbank would later be described by some sections of the press as the party that was rebuffed during the negotiations. Others say that Commerzbank proposed that more time was needed for HVB to restructure its loan book, and that merger negotiations should be put on hold for a year. Commerzbank's CEO, Klaus-Peter Muller, rejects the suggestion that the subsequent breakdown of those negotiations and HVB's purchase by UniCredit of Italy exerted any pressure on Commerzbank to look for an alternative acquisition. Indeed, when the opportunity arose in 2005 for Commerzbank to increase its one-third share in Eurohypo to 98%, Commerzbank was as surprised as everybody else.