Global Capital Markets

BNP Paribas, the French bank, is rumoured to be preparing a EUR 30 per share offer for German bank Commerzbank. According to a report from the German paper Financial Times Deutschland, market speculation suggested that an offer is being prepared whereas unnamed sources from Commerzbank mentioned that there are no talks being held with BNP Paribas and the company has no indication of any offer being prepared. The report added that Commerzbank’s share price rose by 8.8% to EUR 21.79 per share due to the speculation. Both BNP Paribas and Commerzbank did not wish to comment on the matter. Several bankers suggested that further potential bidders could include French banks Societe Generale (SocGen) or Credit Agricole; Dutch ABN Amro; Royal Bank of Scotland (RBS) and HSBC of the UK, and Spanish BBVA. Unnamed sources close to Commerzbank from the investment banking sector stated that several foreign banks signalled their interest in holding takeover talks with Commerzbank. A takeover in the short-term is seen as being very unlikely as Commerzbank’s share price has risen considerably over the past months.