Deals
Commerzbank Rises as Report of ING Interest Adds Another Suitor
- ING reached out to bank, government, Manager Magazin reports
- Italy’s UniCredit had also been reported to prepare rival bid
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Commerzbank AG extended gains after a report that ING Groep NV signaled interest in the German lender, adding to the list of potential acquirers if talks with Deutsche Bank AG fail.
ING Chief Executive Officer Ralph Hamers has reached out to both the German government and Commerzbank counterpart Martin Zielke in an effort to start discussions, Manager Magazin reported, citing people familiar with the matter. While Zielke refused to start formal talks, he hasn’t broken off contact entirely with the Dutch bank, the publication said.