BERLIN (Reuters) – Commerzbank reiterated on Friday that it will not meet with UniCredit for formal discussions until it receives a specific proposal from the Italian bank, which has ruffled feathers in Berlin with its interest in a merger.
Earlier Friday, the Financial Times reported that Commerzbank CEO Bettina Orlopp had shot down an invitation from UniCredit CEO Andrea Orcel to hold informal talks about a potential tie-up with UniCredit, citing people familiar with the matter.
“We have consistently signalled our willingness to engage in discussions and would review a proposal from UniCredit in the interest of all stakeholders. However, we have not received any proposal yet,” a Commerzbank spokesperson said.
“Only a specific proposal regarding the economic and structural terms of a transaction could be a basis for potential talks,” the spokesperson added in response to a Reuters request for comment.
(Reporting by Matthias Inverardi, writing by Rachel More, editing by Thomas Seythal)
Comments