Italian banks resilient despite Iran conflict and macroeconomic uncertainty:
UniCredit raises total Commerzbank stake to 38.87%, up from 32.64% -- filing (05:50 ET) (€36.00, -0.48)
Commerzbank Supervisory board and board of Managing Directors recommend shareholders do not accept UniCredit's exchange offer (€36.04, -0.44)
StreetAccount M&A Summary: Week of 4-May
Telecom, financials, healthcare and commodity-linked sectors outperform; luxury and retail the big laggards:
StreetAccount Summary: The Economist print edition
UniCredit signs non-binding agreement to sell part of its Russian subsidiary "AO Bank"; sees ~35bps capital benefit and negative ~€3.0-3.3B P&L impact from deal (€70.94, 0.00)
European macro headlines:
Italian banking consolidation to progress with BPM-BMPS merger:
German government ponders last-ditch plan to thwart Unicredit bid for Commerzbank; may use state bank KfW to increase stake -- Reuters, citing sources (€36.95, +1.40)
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