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Uni-Credit wants to buy Commerzbank

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The bank Uni-Credit comes from Italy. It wants to buy the German Commerzbank. Now there is an official offer. Uni-Credit offers 18.5 billion Euros. This is a lot of money. One share should cost 17.20 Euros.

Commerzbank is the second largest private bank in Germany. Uni-Credit already owns HypoVereinsbank. A huge bank would form through the purchase. Experts call this a large bank. This bank would be very important for Europe.

The German government views the plan with doubt. It wants to keep the Commerzbank independent. Employees of Commerzbank also have worries. They fear losing many jobs. Uni-Credit stresses the benefits. It wants to become stronger in the European market.

Now the owners of shares must decide. They own parts of the bank. The supervisory authorities also check the plan closely. They watch the safety of the financial system. The decision will happen in the next months.

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Definitions

Shareholder
A shareholder is a co-owner of a company. They buy parts of the company. These parts are called shares. If the company does well, the shareholder earns money.
Supervisory Authority
This is a state office. It watches that companies follow rules. For banks, it makes sure customers' money is safe.
Share
A share is a security. If someone buys a share, a small part of a company belongs to them.

Locations

Germany
Germany is a country in the middle of Europe.
Italy
Italy is a country in the south of Europe.

Sources

Logo ZDFheute
ZDFheute

Unicredit legt Übernahmeangebot für Commerzbank vor

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Logo Die Zeit
Die Zeit

Commerzbank: Unicredit legt offizielles Übernahmeangebot für Commerzbank vor

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Logo Bild
Bild

Offizielles Angebot: Unicredit will Commerzbank übernehmen | Geld

Read now