Orcel Reiterates UniCredit Will Be Active Commerzbank Investor

UniCredit CEO Andrea Orcel told Bloomberg in an interview that the Italian lender will be an active investor in Commerzbank, but it has no plans to launch a takeover bid.

Orcel's comments come as UniCredit is reportedly considering increasing its stake in Commerzbank to 10%, up from the current 9%. Source

UniCredit has been linked with a potential takeover of Commerzbank for several years, but Orcel has repeatedly denied that the Italian lender is interested in a full-blown takeover.

In the interview with Bloomberg, Orcel said that UniCredit is "very happy" with its current stake in Commerzbank and that the Italian lender is "not in a hurry" to increase its stake further.

Orcel also said that UniCredit is focused on its own growth plans and that the Italian lender is not actively looking for acquisitions.