UniCredit’s Orcel Rules Out Commerzbank Bid at Current Price

UniCredit SpA Chief Executive Officer Andrea Orcel effectively ruled out making an offer for Commerzbank AG at the current price, saying such a move wouldn’t add value after a rally in the stock.

“We are far away” from a takeover offer, Orcel said in an interview with CNBC on Wednesday. “Secondly, in our opinion, the share price has gone well beyond the fundamentals.”