(Alliance News) - German lender Commerzbank stated on Monday that it "rejects UniCredit's ongoing hostile tactics," accusing the Italian institution of "misleading characterizations" as part of its takeover bid.
UniCredit's latest proposal to Commerzbank shareholders represents "a further escalation in a highly aggressive and hostile approach," Commerzbank said in a statement.
"A takeover pursued in this manner is destructive to shareholder value and stakeholder trust, which is essential in the banking sector."
source: AFP
By Antonio Di Giorgio, Alliance News reporter
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