Commerzbank CEO Orlopp confirms direct talks with UniCredit over possible takeover as Italian bank holds near 50 percent stake
Commerzbank $CBK CEO Orlopp confirmed direct talks with UniCredit $UCG, which already holds close to half of Commerzbank's shares, over the bank's future. She warned against a rushed integration. Germany's government still owns about 12% and wants a say.
Commerzbank $CBK CEO Bettina Orlopp confirmed at Frankfurt's Handelsblatt Bankengipfel that she is now in direct talks with UniCredit $UCG, the Italian bank that has already secured close to half of Commerzbank's shares, over the German lender's future. Orlopp described the goal as finding a value-maximizing strategy for both institutions together, and cautioned against a rushed integration that could create risks rivals might exploit. She said her own contract runs to 2029, but that continued cooperation depends on trust and a shared strategy with Commerzbank's supervisory board. UniCredit CEO Andrea Orcel is reported to see potential for billions in cost savings, including job cuts and a reduced international branch network, a direction Commerzbank's management opposes. Germany's government still holds roughly 12% of Commerzbank; Orcel is due to meet German finance ministry officials on September 14, meaning Berlin's position may shape the outcome as much as the two banks' own talks. Per finanzen.at, Yahoo Finance, ad-hoc-news.