Jefferies Owns Over 5% of Commerzbank's Voting Rights

Dow Jones
2024-10-25
 

By Elena Vardon

 

Jefferies Financial Group has around 5.3% of Commerzbank's voting rights through its ownership of financial contracts, according to a filing.

A regulatory filing from the German lender on Friday showed that the U.S. investment bank crossed the 5% threshold that requires disclosure on Oct. 18.

Last month, Italian bank UniCredit moved to build a 21% stake in Commerzbank using financial contracts such as derivatives, overtaking the German government as its largest stakeholder and signaling it could pursue a takeover.

UniCredit signed derivative contracts with Jefferies to further hedge its stake in the German bank, Reuters and Bloomberg reported this week.

 

Write to Elena Vardon at elena.vardon@wsj.com

 

(END) Dow Jones Newswires

October 25, 2024 08:33 ET (12:33 GMT)

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