Commerzbank Rebuffs UniCredit as Talks Fail to End Deadlock

Commerzbank AG said recent talks with UniCredit SpA failed to convince it of the merits of the Italian bank’s takeover offer, underlining the German lender’s determination to stay independent.

“Several interactions have taken place with UniCredit” in recent weeks “to constructively explore the basis and benefits of the takeover offer announced by UniCredit to Commerzbank’s shareholders,” the German bank said in a statement Tuesday. “An agreed solution is currently not evident.”