Reuters reported that Intel decided not to divest its majority stake in Mobileye, leading to a 16% surge in the Israeli company’s shares. Despite previous reports of Intel looking to sell part of its stake, Mobileye has seen a 73% drop in shares this year. Intel acquired Mobileye for $15.3 billion in 2017, but later relisted its shares through an IPO.
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UniCredit raises stake in Commerzbank to 28% through derivatives
UniCredit has increased its potential stake in Commerzbank to 28% through derivatives, signaling a possible buyout of the German lender. The Italian bank's move is seen as a strategic investment to unlock value within Commerzbank, amid CEO Andrea Orcel's pursuit of a bid for Banco BPM in Italy. UniCredit's interest in Commerzbank comes as the German government faces political turmoil and uncertainty, with the potential merger offering synergies in various financial activities. Full Article
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