Commerzbank Says Just 1% of Institutional Shares Tendered in UniCredit Offer
Details of UniCredit's Takeover Offer and Shareholder Response
FRANKFURT, June 25 (Reuters) - Germany's Commerzbank said on Thursday that institutional investors have tendered just somewhat more than 1% of shares in UniCredit's takeover offer.
Commerzbank's Statement on Transparency
• Commerzbank said it published the figures to increase transparency and counter what it called "conflicting statements made by UniCredit".
Background: Ongoing Battle for Control
• The two banks have been in a battle for control for months, and UniCredit has made an offer for the bank that is currently ongoing.
Current Shareholder Structure
• "The shareholder structure remains largely unchanged," Commerzbank said.
Breakdown of Tendered Shares
• Of the 12.51% of tendered shares, institutional investors have tendered 1.29% of shares, retail investors 0.05% and banks 11.17%, Commerzbank said.
Reporting and Editing Credits
(Reporting by Tom Sims, editing by Thomas Seythal)
