Commerzbank is ready for takeover talks with UniCredit - report

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Commerzbank ( CRZBF ) ( CRZBY ) Chairman Jens Weidmann invited UniCredit ( UNCRY ) ( UNCFF ) to start talks on the terms of a merger, dropping its prior resistance to an unsolicited takeover by the Italian lender, according to a media report on Friday.

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Jens Weidmann, Chairman of Germany's Commerzbank, has proposed initiating talks regarding the merger and acquisition proposal from Italy's UniCredit. This marks a shift from its previous defensive stance against hostile M&A, suggesting a rapidly rising possibility of a large-scale, cross-border mega-deal between European banks. Investors should closely monitor future negotiation progress and the likelihood of regulatory approval.

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