The former chief executive of Commerzbank , Manfred Knof, wants the German lender to remain independent as Italy's UniCredit pushes for a tie-up, he told a German newspaper.
Commerzbank said on Wednesday that it would begin to buy back up to 1 billion euros ($1.18 billion) in shares starting on Thursday, a move that comes as it seeks to remain independent with Italy's UniCredit calling for a tie-up.
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