By Reuters
FRANKFURT, Sept 24 (Reuters) – Commerzbank CBKG.DE could potentially buy UniCredit’s CRDI.MI German bank HVB in shares as the German and Italian banks work on a possible merger, Commerzbank’s CEO Bettina Orlopp said on Thursday.
Orlopp, speaking at a financial conference, said such a deal structure was one of several “options on the table” as a way to increase UniCredit’s shareholding in Commerzbank.
UniCredit has been pursuing Commerzbank for more than two years and has amassed a stake of nearly 50% despite resistance from Germany. Now, UniCredit and Commerzbank are talking.
Orlopp said that the other ways to structure a deal include a simple merger between Commerzbank and UniCredit, or by UniCredit making another offer to remaining Commerzbank shareholders – “most likely with a premium” – to get its shareholding above 90%.
“All three basic options are on the table,” she said.—Reuters
