UniCredit CEO says prepared to wait on Commerzbank decision / Photo: © AFP/File
-
El Salvador offers to swap US deportees with Venezuela
-
Higgo holds on for win after Dahmen's late collapse
-
El Salvador's president proposes prisoner exchange with Venezuela
-
Gilgeous-Alexander, Jokic, Antetokounmpo named NBA MVP finalists
-
Thomas ends long wait with playoff win over Novak
-
Thunder rumble to record win over Grizzlies, Celtics top Magic in NBA playoff openers
-
Linesman hit by projectile as Saint-Etienne edge toward safety
-
Mallia guides Toulouse to Top 14 win over Stade Francais
-
Israel cancels visas for French lawmakers
-
Russia and Ukraine trade blame over Easter truce, as Trump predicts 'deal'
-
Valverde stunner saves Real Madrid title hopes against Bilbao
-
Ligue 1 derby interrupted after assistant referee hit by projectile
-
Leclerc bags Ferrari first podium of the year
-
Afro-Brazilian carnival celebrates cultural kinship in Lagos
-
Ligue 1 derby halted after assistant referee hit by projectile
-
Thunder rumble with record win over Memphis in playoff opener
-
Leverkusen held at Pauli to put Bayern on cusp of title
-
Israel says Gaza medics' killing a 'mistake,' to dismiss commander
-
Piastri power rules in Saudi as Max pays the penalty
-
Leaders Inter level with Napoli after falling to late Orsolini stunner at Bologna
-
David rediscovers teeth as Chevalier loses some in nervy Lille win
-
Piastri wins Saudi Arabian Grand Prix, Verstappen second
-
Kohli, Rohit star as Bengaluru and Mumbai win in IPL
-
Guirassy helps Dortmund past Gladbach, putting top-four in sight
-
Alexander-Arnold lauds 'special' Liverpool moments
-
Pina strikes twice as Barca rout Chelsea in Champions League semi
-
Rohit, Suryakumar on song as Mumbai hammer Chennai in IPL
-
Dortmund beat Gladbach to keep top-four hopes alive
-
Leicester relegated from the Premier League as Liverpool close in on title
-
Alexander-Arnold fires Liverpool to brink of title, Leicester relegated
-
Maresca leaves celebrations to players after Chelsea sink Fulham
-
Trump eyes gutting US diplomacy in Africa, cutting soft power: draft plan
-
Turkey bans elective C-sections at private medical centres
-
Lebanon army says 3 troops killed in munitions blast in south
-
N.America moviegoers embrace 'Sinners' on Easter weekend
-
Man Utd 'lack a lot' admits Amorim after Wolves loss
-
Arteta hopes Arsenal star Saka will be fit to face PSG
-
Ukrainian troops celebrate Easter as blasts punctuate Putin's truce
-
Rune defeats Alcaraz to win Barcelona Open
-
Outsider Skjelmose in Amstel Gold heist ahead of Pogacar and Evenepoel
-
Arsenal make Liverpool wait for title party, Chelsea beat Fulham
-
Trump slams 'weak' judges as deportation row intensifies
-
Arsenal stroll makes Liverpool wait for title as Ipswich face relegation
-
Sabalenka to face Ostapenko in Stuttgart final
-
Kohli, Padikkal guide Bengaluru to revenge win over Punjab
-
US aid cuts strain response to health crises worldwide: WHO
-
Birthday boy Zverev roars back to form with Munich win
-
Ostapenko eases past Alexandrova into Stuttgart final
-
Zimbabwe on top in first Test after Bangladesh out for 191
-
De Bruyne 'surprised' over Man City exit
UniCredit CEO says prepared to wait on Commerzbank decision
UniCredit's chief executive said Wednesday he could wait until 2027 to determine whether a takeover of Germany's Commerzbank made sense for Italy's second-largest bank.
"At this point, patience is the most important point because we need to execute on our plan, get it done well," said UniCredit chief executive Andrea Orcel Wednesday.
Given longer-than-expected deadlines for the necessary authorisations, Orcel said he was prepared to "sit and see."
"And by the end of the period, which is 2027, determine whether this is good," he told a conference organised by Morgan Stanley in London.
Orcel's comments came nearly a week after the European Central Bank (ECB) gave the green light to the Italian bank raising its stake in its German rival to 29.9 percent.
Last week, Orcel said any decision over Commerzbank could come "well beyond the end of 2025."
Both Commerzbank and Berlin are against any takeover by UniCredit, which has been building up a stake in the German bank since September, fuelling market speculation that Orcel intended to push for an ambitious pan-European banking merger.
Asked about the outlook for mergers and acquisitions in Europe's banking sector, Orcel said Wednesday he was "less positive" than he was at the end of 2024, due to long lead times associated with such transactions.
T.Zimmermann--VB
