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UniCredit Is Said to Have Shown Interest in Buying Commerzbank

  • Executives are said to have talked with German officials
  • Deal unlikely in short term as both banks are restructuring

UniCredit SpA executives have held discussions with German officials about a potential combination with Commerzbank AG once the lenders’ restructuring is complete, according to a person with knowledge of the talks.

A transaction is unlikely in the short term because both banks are cutting jobs and selling assets to restore profitability, said people familiar with UniCredit’s thinking, asking not to be identified because the discussions are private. Contacts are at an early stage for what would probably be an all-share deal, Reuters reported Wednesday.