UniCredit rejects Commerzbank claims that take-up is lower than seems
- It added in a statement that it would consider 'the most appropriate action to protect its interests'
MILAN: Italian bank UniCredit on Monday dismissed as groundless suggestions by Commerzbank that the real take-up in its exchange offer to take over the German lender is lower than data show.
UniCredit said it was “compelled to clarify its position to set the record straight” because of “the continued and relentless dissemination of inaccurate and misleading information” which was interfering with the offer process and “encouraging regulatory and legal investigations to disrupt the integrity of the offer.”
It added in a statement that it would consider “the most appropriate action to protect its interests.”
“Suggestions that the actual number of tendered shares is lower because these shares have been borrowed from UniCredit are false and without foundation,” it said.
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