Finance
UniCredit to Decide on Commerzbank Bid in a Year, Orcel Says
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UniCredit SpA Chief Executive Officer Andrea Orcel wants to decide at the end of this year whether he makes a takeover offer for Commerzbank AG, linking the decision to the next German government’s willingness to let the deal happen.
“I am pleased that the German elections are a bit earlier because we need to wait for the new government to be in place to start a conversation with them,” Orcel said in an interview Tuesday. “I expect that a decision on a possible takeover will be taken in the last quarter of this year or the first quarter of next year.”