Commerzbank institutional investors tender just over 1% of shares in UniCredit offer, German bank says

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.