- UniCredit (UCG) raised pre-merger synergies to €1.2bn before tax; including tax effects and capitalization the savings surpass €8bn, measured before integration costs.
- UniCredit (UCG) said an EGM for Commerzbank would allow conversion of physically settled total return swaps and permit Commerzbank to issue AT1 bonds in the U.S.; talks on German state role ongoing.
- German finance ministry criticized UniCredit S.p.A.'s tactics, pledging to protect German SMEs, support Frankfurt as a financial hub and safeguard local jobs; statement directly addressed UniCredit.
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Key facts: UCG €1.2bn savings; EGM OKs TRS US AT1; Germany objects
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UniCredit (UCG) raised pre-merger synergies to €1.2bn before tax; including tax effects and capitalization the savings surpass €8bn, measured before integration costs.UniCredit (UC