MILAN, March 18 (Reuters) – UniCredit Chief Executive Andrea Orcel said on Wednesday there was a “remote” possibility the Italian bank would improve the terms of its bid for Commerzbank based on the outcome of their discussions.
UniCredit on Monday launched a takeover bid for Commerzbank, saying it did not want to gain control of the rival but to trigger tie-up discussions.
Speaking at a Morgan Stanley conference in London, Orcel said the chief aim of the bid was to break the stalemate that ensued after UniCredit’s initial acquisition of a stake in the rival in September 2024.
(Reporting by Valentina Za, editing by Gavin Jones)
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