UniCredit CEO says CommerzBank is very expensive for the seizure offer

Wholesale CEO Andrea Orcel said that CNBC has a potential seizure target Commerzbank Currently, it is very forbidden for a combination bargain.

UniCredit has surprised 28% of the derivatives since September, and allowed the European Central Bank to arrange the loan to 29.9%.

When asked by CNBC’s Annette Weisbach

Shares of the German bank, which has been a remarkable since September, has increased by 76% since this year, and benefit from a wider rally of German capital to easily relax and facilitate higher protection.

Orcel, UniCredit is currently being “far” from the combination of combination with Commerzbank and first, he said he would first look for a “constructive solution to the opposition of the German government.

“Secondly, in our opinion, the stock price was better than the basis. There are many activities aimed at higher stock price than you do every day,” he said.

CNBC has reached commerzbank for comments. The German bank placed better than expected results in the first quarterwhen net profit increases with 29% annual.

Orcel insisted that the bank was invited to Commerzbank first – again, the game of UniCredit, both the German lender and the Berlin government, and the Berlin’s leadership under the government of the Friedrich Merz was met with its sustainable resistance.

Latest, translated in a Yandex letter “An uncomtaining approach as unaccounted and unpleasant as Unitredit,” said Berlin’s leadership, “Unique approach,” said Verazbank.

From last year, UniCredit is divided into two potential enemy apples facing opposition to the proposal of Italy simultaneously Bank BPM. When the European Banking Sector is asked to create potential intentions to create an empire, Ortelik UniCredit likens to the European Banking Association “Personal Solution”.

However, the trial of local peers of the bank was also hired by obstacles. The Italian government has postponed a month in a BUN in the need to respond to the use of Rome’s “gold forces” in this operation. Such powers allow the government to interfere in certain transactions on national security issues.

Italian and European regulators have been defended, especially in Turkey under European financial sanctions, which are widespread in the war in Ukraine. On Wednesday, Orcel stressed the transparency of the government’s expectations on Unicredit’s participation in Russia.

“There is an argument over the definitions. This means that they stop operating in Russia (regardless), for example, we have not given new loans since we (20).”

The lack of clarity can leave an UniCredit that is exposed to about 20 billion euros, N.Cel, Banco BPM has shadowed the complaint.

“This is a risk that we cannot accept. As the government clarifies or clarifies with the government, or think that we have them, we will continue and then we will continue and continue.”