Commerzbank Says Jefferies Has More Than 5% of Its Voting Rights

Bloomberg10-25

(Bloomberg) -- Commerzbank AG disclosed that Jefferies Financial Group Inc. controls 5.33% of its voting rights, adding to a number of investment banks with financial instruments in the German lender....

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Milan-based UniCredit has built a 21% holding in Commerzbank, which is mostly in the form of derivatives, and said a full takeover is an option.The Italian bank has also said that the majority of its economic exposure has been hedged “to provide it with full flexibility and optionality to either retain its shareholding, sell its participation with a floored downside, or increase the stake further.”UniCredit has been working with Jefferies in recent days to buy additional protection for its Commerzbank holding through complex","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"UNCRY":"UniCredito Spa","BK4127":"投资银行业与经纪业","JEF":"杰富瑞","UNCFF":"UniCredito Spa"},"translate_title":"德国商业银行表示杰富瑞拥有其超过5%的投票权","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"JEF":0.9,"UNCFF":0.9,"UNCRY":0.9},"content_text":"(Bloomberg) -- Commerzbank AG disclosed that Jefferies Financial Group Inc. controls 5.33% of its voting rights, adding to a number of investment banks with financial instruments in the German lender.\nJefferies crossed the 5% threshold that requires disclosure on Oct. 18, according to a Commerzbank statement Friday that confirmed an earlier Bloomberg report. \nJefferies’ position was built up to hedge UniCredit SpA’s existing holdings in Commerzbank, Bloomberg reported yesterday. Milan-based UniCredit has built a 21% holding in Commerzbank, which is mostly in the form of derivatives, and said a full takeover is an option. \nThe Italian bank has also said that the majority of its economic exposure has been hedged “to provide it with full flexibility and optionality to either retain its shareholding, sell its participation with a floored downside, or increase the stake further.”  \nUniCredit has been working with Jefferies in recent days to buy additional protection for its Commerzbank holding through complex financial instruments that mitigate the risk of share price declines, people familiar with the matter have said.\nUniCredit previously worked with Barclays Plc and $Bank of America Corp(BAC-N)$. to help build up its Commerzbank stake in several stages, Bloomberg News reported earlier. The Italian lender has asked for regulatory permission from the European Central Bank to increase its stake to as much as 29.9%.\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2478988962"}