UniCredit Raises Profit Guidance as Commerzbank Takeover Battle Nears End
UniCredit raised its annual profit targets and reported higher third-quarter earnings. It now expects net profit well above 11.5 billion euros.
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UniCredit MIL:UCG, Italy's second-biggest bank, posted a much larger-than-forecast 24% yearly rise in third-quarter earnings and hiked its full-year profit goal, as it prepares to take control of Germany's Commerzbank XETR:CBK.With a lowball buyout offer that concluded in July and a skilful use of…
By Michael HennesseyUniCredit raised its annual profit targets and reported higher earnings for the third quarter, as it nears the end of a takeover battle to take control of Germany's Commerzbank.The Italian bank said on Monday it now expects to report net profit of well above 11.5 billion euros…