Milan, June 9 (LaPresse) – “Commerzbank’s management has every right to recommend that shareholders do not tender their shares in response to the public exchange offer launched by UniCredit. It is not, however, entitled to undermine the integrity of the offer process through allegations unsupported by evidence, claiming that UniCredit’s mandatory disclosures are misleading, artificially inflated or otherwise capable of improperly interfering with the proper conduct of the transaction.” This was stated by UniCredit in a note. UniCredit “would have preferred that shareholders assess the facts independently and draw their own conclusions, but the seriousness of the allegations raised by Commerzbank, the continuous communications to the press by ‘sources close to Commerzbank’ and the persistent dissemination of increasingly serious and unfounded information make it necessary to take a position. Also in light of today’s communication regarding the further increase in shares tendered to the offer, which, based on experience, suggests that further accusations and initiatives by Commerzbank can be expected,” the statement continues. UniCredit adds that it “therefore considers it necessary to set out the main factual elements in order to ensure transparency towards shareholders and other stakeholders.”
Commerzbank, UniCredit: “Accusations not supported by evidence”
Milan, June 9 (LaPresse) – “Commerzbank’s management has every right to recommend that shareholders do not tender their shares in response to the public exchange offer launched by UniCredit. It is not, however, entitled to undermine the integrity of the offer process through allegations unsupported by evidence, claiming that UniCredit’s mandatory disclosures are misleading, artificially inflated or otherwise capable of improperly interfering with the proper conduct of the transaction.” This was stated by UniCredit in a note. UniCredit “would have preferred that shareholders assess the facts independently and draw their own conclusions, but the seriousness of the allegations raised by Commerzbank, the continuous communications to the press by ‘sources close to Commerzbank’ and the persistent dissemination of increasingly serious and unfounded information make it necessary to take a position. Also in light of today’s communication regarding the further increase in shares tendered to the offer, which, based on experience, suggests that further accusations and initiatives by Commerzbank can be expected,” the statement continues. UniCredit adds that it “therefore considers it necessary to set out the main factual elements in order to ensure transparency towards shareholders and other stakeholders.”
