UniCredit has denied allegations from Commerzbank concerning the handling of its tender offer for the German bank, specifically rejecting claims about unusual behavior in the tendering process.

Commerzbank had raised concerns about the actual number of shares tendered in UniCredit's bid, suggesting that borrowing mechanisms may have affected the true count of tendered shares. The German bank appeared to question whether the stated number of shares in the tender accurately reflected genuine shareholder participation.

UniCredit firmly disputed these characterizations, maintaining that its tender offer process followed standard procedures. The Italian lender rejected any suggestions that borrowing mechanisms were used inappropriately or that the reported tender figures were inaccurate.

The dispute highlights tensions between the two banks as UniCredit pursues its acquisition bid for Commerzbank. The disagreement over tender procedures adds another layer of complexity to what has been characterized as a contentious takeover attempt.

The back-and-forth between the banks underscores the competitive nature of the deal, with Commerzbank pushing back against UniCredit's approaches while the Italian bank defends its methods and procedures in the acquisition process.