FRANKFURT: Germany’s Commerzbank said on Thursday that institutional investors have tendered just somewhat more than 1% of shares in UniCredit’s takeover offer.
Commerzbank said it published the figures to increase transparency and counter what it called “conflicting statements made by UniCredit”.
The two banks have been in a battle for control for months, and UniCredit has made an offer for the bank that is currently ongoing.
“The shareholder structure remains largely unchanged,” Commerzbank said.
Of the 12.51% of tendered shares, institutional investors have tendered 1.29% of shares, retail investors 0.05% and banks 11.17%, Commerzbank said.
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