--- title: "德國商業銀行首席執行官再次呼籲投資者拒絕意大利聯合信貸的收購提議——更新" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/287052406.md" description: "德國商業銀行首席執行官貝蒂娜·奧爾洛普（Bettina Orlopp）呼籲股東拒絕意大利聯合信貸銀行（UniCredit）的收購要約，稱其模糊且在財務上不合適。她強調了相關風險，並表示該要約低估了德國商業銀行的價值。該銀行監事會主席延斯·魏德曼（Jens Weidmann）也表達了相似的擔憂，強調了可能面臨的不良貸款和意大利政府債券的風險。儘管管理層持此立場，一些股東對其應對聯合信貸銀行進攻的方式表示質疑，認為歐洲銀行業需要進行跨境交易" datetime: "2026-05-20T11:00:41.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287052406.md) - [en](https://longbridge.com/en/news/287052406.md) - [zh-HK](https://longbridge.com/zh-HK/news/287052406.md) --- # 德國商業銀行首席執行官再次呼籲投資者拒絕意大利聯合信貸的收購提議——更新 By Joshua Kirby and Aimee Look Commerzbank's boss again called on shareholders to reject a takeover attempt by Italy's UniCredit, describing the bid as vague and inappropriate. "We urge that you do not accept UniCredit's offer," Chief Executive Bettina Orlopp told shareholders at the German bank's annual general meeting Wednesday. The amount UniCredit is offering for the part of Commerzbank it doesn't own is "not appropriate from a financial perspective," Orlopp said. She said UniCredit's plans are vague, offer no added value and are fraught with significant risks. UniCredit didn't immediately respond to a request for comment. Orlopp said management remains open to talks when there is willingness to discuss the points it has made. The executive's comments follow UniCredit launching a roughly 24 billion-euro ($27.86 billion) takeover offer for the shares it doesn't already own in Commerzbank. The bid would value the German bank around $40 billion in its entirety. UniCredit recently increased its stake in Commerzbank to around 38.9%. The bank's second-largest shareholder is the German federal government, which stepped in to prop up the bank at the time of the 2008 financial crisis. German officials, as well as trade unions, have been staunch in their opposition to a takeover of Commerzbank. If shareholders accept the share exchange offer, they would also be exposed to UniCredit's inherent risks, according to the chair of Commerzbank's supervisory board, Jens Weidmann. Shareholders would bear a higher ratio of nonperforming loans, significant business in Russia and increased exposure to Italian government bonds, Weidmann said during Wednesday's meeting. Orlopp and Weidmann's comments echo previous calls from Commerzbank management to reject UniCredit's lengthy courtship. Earlier this week, the bank's management and supervisory boards said the Italians' bid undervalued it, with no adequate premium to its current share price. Commerzbank said the suitor also lacked a credible plan for a combination. Still, some shareholders at the meeting questioned management's handling of UniCredit's advances. The European banking sector must look to cross-border deals if it is to stay competitive internationally, said Hendrik Schmidt, representing asset manager and Commerzbank investor DWS. Write to Aimee Look at aimee.look@wsj.com Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby (END) Dow Jones Newswires May 20, 2026 06:42 ET (10:42 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. ### 相關股票 - [CBK.DE](https://longbridge.com/zh-HK/quote/CBK.DE.md) ## 相關資訊與研究 - [德國商業銀行正式拒絕裕信銀行收購邀約](https://longbridge.com/zh-HK/news/286765607.md) - [UniCredit 首席執行官表示，接管德國商業銀行 ‘並非預期中的情況’](https://longbridge.com/zh-HK/news/285166641.md) - [四家消金公司同日甩賣 31.45 億元不良貸款，什麼信號？](https://longbridge.com/zh-HK/news/286648921.md) - [意大利忠利集團一季度營業利潤超預期並重申長期增長目標](https://longbridge.com/zh-HK/news/287167536.md) - [意大利最大銀行考慮競購西班牙財富管理公司](https://longbridge.com/zh-HK/news/287110671.md)