UniCredit vows to finance German companies in tie-up with Commerzbank

FRANKFURT, Oct 30 (Reuters) – Italy’s UniCredit (CRDI.MI),on Friday said it ​was committed to financing ‌Germany’s medium-sized Mittelstand companies, seeking to allay concerns as it ​aims for a deal ​to take over Commerzbank (CBKG.DE),

• During UniCredit’s ⁠two-year effort to take ​over Commerzbank, some German ​corporations, bankers and politicians have worried that UniCredit would turn its ​back on German companies ​in the event of a takeover.
• “We ‌will ⁠strengthen our support for corporate clients, building on and further developing the existing networks ​and ​relationships ⁠of HVB and Commerzbank. We will increase ​our capacity to finance ​corporate ⁠growth,” UniCredit CEO Andrea Orcel said in a statement.
• Commerzbank ⁠said ​in response that ​it welcomed UniCredit’s commitment.

Reporting by Tom ​Sims, Editing by Friederike Heine