UniCredit Italian shareholder Cariverona confirms support for Commerzbank move
Published by Uma Rajagopal
Posted on October 29, 2024

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by Uma Rajagopal
Posted on October 29, 2024

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)