Dow Jones-Commerzbank boss Bettina Orlopp currently excludes informal discussions with UniCredit about a merger. “This train has left a bit,” she said at the balance sheet press conference in Frankfurt. “You can do that if the public does not pay attention to every step,” she added. With regard to the bank’s adhoc obligations, she said that discussions about a combination with Unicredit would probably have to be published immediately. “We would only take the step if we have a rough idea of what it looks like, what our counterpart wants to discuss with us.”
Unicredit has secured access to around 28 percent at Commerzbank and is striving for a takeover. So far, however, there is no concrete proposal for the institute that has a large business with HypoVereinsbank in Germany.
“We meet unicredit for investor talks, she is an important shareholder,” said Orlopp. “We treat them in terms of information policy, like all other shareholders”. However, caution should also be exercised, because the Italian bank is also a competitor.
If there is a concrete proposal about a merger, Commerzbank must check it, the manager continued. She referred to possible synergies on the one hand, but also restructuring expenses, execution risks and customer abrasion on the other. “An independent Commerzbank is very important to our medium -sized customers,” said Orlopp. In the end, the question of independence or combination is a consideration, “but only when two plans are on the table”.
Contact with the author: [email protected]
DJG/MGO/Kla
(End) Dow Jones Newswires
February 13, 2025 06:32 ET (11:32 GMT)
Selected leverage products on Commerzbank
With knock-outs, speculative investors can participate disproportionately in price movements. Simply choose the desired lever and we will show you suitable open-end products on Commerzbank
The lever must be between 2 and 20
Advertising