Bundeskartellamt gives Unicredit the green light for Commerzbank investment
The German Federal Cartel Office has given Unicredit $UCG (-1,52%) a stake of up to 29.99 percent in Commerzbank. $CBK in Commerzbank. This decision is a turning point for the Milan-based bank, which wants to significantly expand its presence in the private and corporate customer business in Germany. The head of the Cartel Office, Andreas Mundt, stated that there are sufficient competitors to secure market access. Unicredit CEO Andrea Orcel has been pursuing the takeover of Commerzbank for some time and already has 28 percent of the shares in her pocket, 9.5 percent of which is directly through shares and 18.5 percent through financial instruments. A 30 percent stake would oblige Unicredit to submit an official purchase offer. However, a final decision on the merger is not expected until next year, as Orcel is currently in talks with the new German government to clarify the next steps.
US investors optimistic despite customs unrest
In the USA, investors on Wall Street are optimistic at the start of the week in view of the latest tariff exemptions. The Dow Jones rose by 0.8 percent, while the technology-oriented Nasdaq gained 0.6 percent. Investors are confident that electronic devices such as smartphones and computers will be spared from the new tariffs. President Donald Trump has announced that he will soon publish details of the tariffs on semiconductors, which is causing excitement. These uncertainties are also reflected in the currency market, where the dollar index fell by 0.3%. Tech stocks in particular, such as Apple $AAPL (+1,76%) and HP $HPQ (-2,07%) in particular were able to benefit from the tariff exemptions and recorded positive price movements. Apple rose by 2.2 percent, indicating possible relief in prices for consumer goods.
Sources:
https://www.n-tv.de/wirtschaft/Unicredit-kommt-Ubernahme-von-Commerzbank-naeher-article25703117.html
https://www.n-tv.de/wirtschaft/US-Anleger-wagen-sich-aus-der-Deckung-article25704622.html