1300 GMT - It could take until 2027 for UniCredit to be convinced that the rally on Commerzbank's shares is deserved and pave the way for a deal, the Italian bank's CEO says at a Morgan Stanley conference in London. It is taking longer than initially anticipated to move forward with its potential takeover plans for the German bank, Andrea Orcel says. It is now a "different transaction" compared to when it first built up a 9% stake in September, he says. "Now we have a unique silver lining from the elongation of this project, which is as a shareholder we're booking a significant gain" on its investment, which now stands at 28%, Orcel says. "We're very comfortable in waiting," he says, adding the bank is focused on executing its plan which might include the integration of Banco BPM if that deal goes through.(elena.vardon@wsj.com)
(END) Dow Jones Newswires
March 19, 2025 09:02 ET (13:02 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。