Banking
UniCredit Italian shareholder Cariverona confirms support for Commerzbank move
Global Banking & Finance Review®
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MILAN (Reuters) – Fondazione Cariverona, a major Italian shareholder in UniCredit, confirmed its support for the bank’s management in regards to Commerzbank, its chairman said on Monday.
MILAN (Reuters) – Fondazione Cariverona, a major Italian shareholder in UniCredit, confirmed its support for the bank’s management in regards to Commerzbank, its chairman said on Monday.
UniCredit has upset officials in Germany by becoming the biggest private investor in Commerzbank and preparing the ground to potentially become its single biggest shareholder, leapfrogging the Berlin government which owns 12%.
The head of Cariverona, Bruno Giordano, told a press conference that he was surprised that there was opposition in Germany to a major European project in the banking sector, according to a person who attended the event.
Fondazione Cariverona holds a 1.09% stake in UniCredit.
(Reporting by Gianluca Semeraro; editing by Keith Weir)
A shareholder is an individual or institution that owns shares in a company, giving them a claim on part of the company's assets and earnings.
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An investment is an asset or item acquired with the goal of generating income or appreciation. It can include stocks, bonds, real estate, and other financial instruments.
A financial market is a marketplace where assets such as stocks, bonds, currencies, and derivatives are traded, facilitating the exchange of capital and liquidity.
A stake in a company refers to the ownership interest held by an individual or entity, typically represented by shares of stock, which entitles them to a portion of the company's profits.
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