Pavel Ševela
The bank announced in a press release that the buyback will start on Monday and could finish by November. In September, UniCredit announced that the European Central Bank had given its approval for the bank to repurchase shares.
Last week it was reported that UniCredit purchased a 9% share in German Commerzbank. Andrea Orchel, CEO of the Italian bank, stated that he is not dismissing the idea of acquiring Commerzbank.
UniCredit spent over 700 million euros to purchase a 4.5% share in Commerzbank from the German government and also obtained an identical stake through the market. UniCredit declared the purchase of a portion of the German bank and reassured that it would not impact their intentions for a share repurchase.
It had previously committed to raise shareholder allocations to 10 billion euros by the end of 2024.
UniCredit has seen a 51.2% increase in its capitalization since the start of 2024.
source: reuters.com
Last week it was reported that UniCredit purchased a 9% share in German Commerzbank. Andrea Orchel, CEO of the Italian bank, stated that he is not dismissing the idea of acquiring Commerzbank.
UniCredit spent over 700 million euros to purchase a 4.5% share in Commerzbank from the German government and also obtained an identical stake through the market. UniCredit declared the purchase of a portion of the German bank and reassured that it would not impact their intentions for a share repurchase.
It had previously committed to raise shareholder allocations to 10 billion euros by the end of 2024.
UniCredit has seen a 51.2% increase in its capitalization since the start of 2024.
source: reuters.com
