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Commerzbank to hold first talks with UniCredit on Friday

Reuters
·1 min read
FILE PHOTO: Germany's Commerzbank AG hold their annual results press conference in Frankfurt

FRANKFURT (Reuters) -Commerzbank's designated CEO, Bettina Orlopp, said on Thursday that the bank will hold a first round of talks with UniCredit on Friday as the Italian lender presses for a possible tie-up.

The remarks are her first since she was named earlier this week the German bank's next chief executive officer at a critical juncture in its 154-year history.

UniCredit earlier this month disclosed that it had bought a 9% stake in Germany's bank, plans to buy more and has pressed for discussions to explore a tie-up.

She said the bank was open-minded and that any synergies must be jointly analysed.

(Reporting by Tom Sims, Editing by Friederike Heine, Madeline Chambers)