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Germany mulls law to protect banks from foreign takeovers, Italian newspaper says

2024.10.20 09:35

MILAN (Reuters) – Germany is considering introducing a law to protect domestic banks from cross-border takeovers, Italian newspaper La Repubblica reported on Sunday, as Italy’s UniCredit seeks a merger with Germany’s Commerzbank (ETR:).

Berlin was taken aback by UniCredit’s swoop to build a large stake in state-backed Commerzbank, a move the Italian bank says could lead to a merger.

© Reuters. FILE PHOTO: A logo of the bank is seen next to the headquarters of Commerzbank one day ahead of the bank's rejoinment to Germany's share price index DAX in Frankfurt, Germany, February 26, 2023.  REUTERS/Kai Pfaffenbach/File Photo

The German government could follow the example of Poland which has a law preventing foreign lenders from buying 100% of any Polish bank and requires them to remain listed on the Warsaw Stock Exchange, La Repubblica said, citing a source close to the matter.

Reuters was not able to confirm La Repubblica’s report.



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