Unicredit CEO eyes acquisitions in Germany -Handelsblatt

FAN Editor

BERLIN (Reuters) – UniCredit is eyeing acquisitions in Germany as part of plans by Italy’s second-biggest bank to become a fully developed European bank, Chief Executive Andrea Orcel told German daily Handelsblatt on Tuesday.

“A significant increase in our market share in Germany would be good for Unicredit as a whole,” he said, according to the paper, adding that mergers and acquisitions could be an accelerator and create added value under the right conditions.

Talks with the chief executive of Commerzbank about a possible tie-up reported in May had not been far advanced before being put on ice due to the Ukraine war, the paper cited Orcel as saying.

“There was no closer communication on this,” he replied, when asked about the talks with the No. 2 German lender after Deutsche Bank.

(Writing by Miranda Murray; Editing by Clarence Fernandez)

Free America Network Articles

Leave a Reply

Next Post

FOMC meeting begins, housing report release and more: Tuesday's 5 things to know

Check out what’s clicking on FoxBusiness.com Here are the key events taking place on Tuesday that could impact trading. FED RELIEF IN 2024?: The Federal Reserve is unlikely to pivot and cut its benchmark interest rate until 2024 at the soonest as it tries to crush the hottest inflation in four […]