UniCredit chief executive Andrea Orcel approached German lender Commerzbank’s management on Wednesday inviting the bank to explore merger talks, a source with knowledge of the matter told Reuters.UniCredit's approach is the strongest indication yet that the Italian lender wants to buy Commerzbank.
A spokesperson for Commerzbank, which said it was holding a board meeting later on Wednesday to discuss UniCredit, neither confirmed not denied an approach had been made.Fondazione Cariverona, a major Italian shareholder in UniCredit, welcomed the decision by Italy’s second-largest bank to buy a stake in Commerzbank, its chairman said on Wednesday.
“Fondazione Cariverona sees UniCredit’s decision to buy a significant stake in Commerzbank as highly positive”, Chairman Bruno Giordano said in a statement.Payroll software firm UKG to add 200 jobs at Kilkenny hub‘My husband’s weight has begun to affect my desire for him’Harris has Trump’s measure - but she still faces steep climb to election win