Friday, November 28, 2008

"The bank Commerzbank is red"

Well, the fact that the bank Commerzbank, Allianz now instead of in cash paid in shares, the acquisition is not cheap. On the contrary: At the current share price would take over the remaining 40 percent stake in Dresdner Bank, 1.1 billion euros. Now the bank Commerzbank 1.4 billion euros on the table. The whole thing is cheaper only in comparison with the stock in September, when the bank Commerzbank shares still were worth 20 euros.I think that for both parties is beneficial. The alliance knows what she has, and Commerz Bank could quickly with the integration begin. And they need not the blessing of the extraordinary general meeting here. Dieter Hein bank of the independent expert analysts Fairesearch House.
Is not it quite risky, precisely in the incipient slowdown two to Germany focused SME financiers to merge?

Yet. Before the bank Commerzbank the request for state money had, was the takeover of Dresdner Bank in my eyes even existence. And not only because in the next few years the number of loan defaults will rise, but also because it still is not clear what risks still on the books of Dresdner Bank slumber. It also has the Institute in the boom of recent years have not managed to write black numbers - and, although they are still extraordinary gains from the sale of credit could participations. How is the first in the recession look like? Latest news, background and views of the FR and positions of renowned experts. Moreover dictionary and a small consolation for some fun with cartoonist Thomas Plaßmann. Special to the financial crisis.
They believe therefore that the "new bank Commerzbank" in the next year, no black writing?

That will hardly work. Finally, the Institute for the acquisition restructuring costs of two billion euros.

Had it not been better the assumption abzublasen?

Thanks to the billions from the special fund of the federal government can Commerzbank much calmer way. With this money they can so the alliance also pay off. And from the perspective of the general public, it is desirable that through the merger of a new leader on the German market.

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