Finance

UniCredit-Commerzbank Deal Could Create Value, Intesa CEO Says

UniCredit last month rapidly built up a 21% stake in Commerzbank.
Photographer: Krisztian Bocsi/Bloomberg

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By Sonia Sirletti and Flavia Rotondi

October 3, 2024 at 1:31 PM UTC

This article is for subscribers only.

Intesa Sanpaolo Chief Executive Officer Carlo Messina said a takeover of Commerzbank AG by UniCredit SpA could be good for shareholders.

A deal between the Italian lender and its German rival would lead to cost cuts because UniCredit already has substantial operations in the country, Messina said at Bloomberg’s Future of Finance event on Thursday.