Commerzbank shares rise on report UniCredit plans to make rival bid if Deutsche talks fail

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FRANK RUMPENHORST | DPA | Getty Images
Picture taken on March 17, 2019 shows the headquarters of German banks Deutsche Bank (L) and Commerzbank in Frankfurt am Main, western Germany.

Commerzbank shares rose following a report that UniCredit stands ready to make a rival bid for the bank if merger talks with fellow German lender Deutsche Bank fail.

Shares of Commerzbank were up around 3 percent in morning trade on the back of the news.

UniCredit and Commerzbank were not immediately available for comment when contacted by CNBC.

While the German government’s stand on this remains unclear, it has been speculated that a Deutsche Bank-Commerzbank tie-up would be seen as favorable as it would create a domestic banking champion. A deal with UniCredit would mean a foreign lender taking control of Germany’s second-largest bank.

Commerzbank’s executive board is reportedly set to decide whether to intensify discussions with Deutsche Bank — or back away from a deal — on April 9.

You can read the full Financial Times report here.

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