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Commerzbank Unveils €1.2 Billion Buyback as UniCredit Talks Loom

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Commerzbank Unveils €1.2 Billion Buyback as UniCredit Talks Loom Commerzbank AG unveiled a fresh share buyback as Chief Executive Officer Bettina Orlopp seeks to demonstrate that her strategy delivers strong returns while Italian rival UniCredit SpA is preparing to control. The German lender will purchase as much as €1.2 billion ($1.4 billion) of its own shares, according to a statement on Thursday. Net income in the three months through June was €898 million, compared with an average...

Commerzbank Unveils €1.2 Billion Buyback as UniCredit Talks Loom Commerzbank AG unveiled a fresh share buyback as Chief Executive Officer Bettina Orlopp seeks to demonstrate that her strategy delivers strong returns while Italian rival UniCredit SpA is preparing to control. The German lender will purchase as much as €1.2 billion ($1.4 billion) of its own shares, according to a statement on Thursday. Net income in the three months through June was €898 million, compared with an average analyst estimate of €856 million.
Commerzbank Unveils (ORG) UniCredit Talks Loom Commerzbank Unveils (ORG) UniCredit Talks Loom Commerzbank AG (ORG) Bettina Orlopp (PERSON) Italian (ORG) UniCredit SpA (ORG) German (ORG)
Originally published by Bloomberg Markets Read original →