The behavior of the potential acquirer was very aggressive, very opaque, untransparent,” Germany’s Jörg Kukies told CNBC of UniCredit’s bid for Commerzbank.

Germany's Commerzbank has demanded a formal written proposal amid a potential takeover by Italian bank UniCredit. "We have always signalled our willingness to talk and would examine a proposal from UniCredit in the interests of all stakeholders,

Commerzbank on Wednesday defined UniCredit's approach for a potential tie-up as "hostile", and said there had been no discussion of it with the Italian bank in the past two years, despite UniCredit CEO Andrea Orcel saying there had.

UniCredit SpA Chief Executive Officer Andrea Orcel said he was surprised by the backlash in Germany over his efforts to acquire Commerzbank AG, saying his bank was invited to bid and communicated with all sides.

Italy's UniCredit bank said on Tuesday it would not rush a possible takeover of German rival Commerzbank and was willing to walk away but would wait first for the German election's outcome.

Commerzbank chief Bettina Orlopp shot down an invitation from Andrea Orcel to hold informal talks about a potential tie-up with UniCredit, and has instead insisted on receiving a written proposal before engaging, according to people familiar with the situation.

German lender under pressure to cut costs and boost returns after unwanted approach from UniCredit. Read more at straitstimes.com.

J.P. Morgan analyst Delphine Lee maintained a Buy rating on UniCredit SpA (UNCFF – Research Report) today and set a price target of €49.00. The

BERLIN (Reuters) - Commerzbank reiterated on Friday that it will not meet with UniCredit for formal discussions until it receives a specific proposal from the Italian bank, which has ruffled feathers in Berlin with its interest in a merger.

Italian bank UniCredit — one of the last remaining Western banks still operating in Russia — has stopped outgoing euro transfers for individual clients, Russian outlet The Moscow Times wrote on Jan. 23.

Mediobanca SpA’s chief executive officer said a takeover attempt by smaller rival Banca Monte dei Paschi di Siena SpA was unsolicited, as the Italian investment bank prepared to respond and possibly defend itself.

DAVOS: Heading into the glitzy World Economic Forum, the thinking was it would be the perfect place for many of the biggest deals in the works among Europe’s lenders to inch their way into existence.