UniCredit’s Orcel Says Commerzbank Move Is ‘Test Case’ for EU
- Italian bank has built a major stake in the German lender
- Berlin has signaled preference for lender to stay independent
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UniCredit SpA’s approach to Commerzbank AG will show how integrated Europe really is, Chief Executive Officer Andrea Orcel said in response to opposition from the German government.
The potential acquisition of a German lender by an Italian one “is a test case for Europe,” Orcel said at a conference on Wednesday. A deal would demonstrate that “we can come together and create a stronger bank.”