Orcel: would like to see E Commerzbank shares rise further

Orcel: would like to see E Commerzbank shares rise further

Commerzbank CEO Bettina Orlopp has once again dismissed speculation about a potential takeover by Unicredit, reiterating that any decision would ultimately rest with shareholders. Speaking at a banking conference in Frankfurt on Wednesday, Orlopp stated that she would not support such a move. "Of course, no," she replied when asked how she would vote on the question of whether Unicredit should acquire Commerzbank. The decision, she emphasized, would depend on whether such a transaction made sense, and it is up to shareholders to decide [1].

Unicredit has been increasing its stake in Commerzbank as part of its plans to merge the Frankfurt lender with its Munich subsidiary, HypoVereinsbank. The Milan-based bank has already received approval from the European Central Bank (ECB) to acquire a 29.9 percent stake in Commerzbank and has cleared the way with Germany's Federal Cartel Office. However, the German government remains opposed to the plan [1].

Orlopp highlighted Commerzbank's focus on executing its own strategy. The bank has seen "many, many successes" over the past twelve months, with "outstanding" results in its half-year performance. "We have no intention of letting up; we are fully focused on implementing our strategy," she added. Commerzbank recently raised its profit forecast for the year following an unexpectedly strong first half [1].

Unicredit's CEO, Andrea Orcel, is expected to address the same conference on Thursday. While Orcel has expressed his desire to see Commerzbank shares rise further, Orlopp's stance reflects the bank's commitment to its current strategic direction and the decision-making power of its shareholders [1].

References:
[1] https://www.marketscreener.com/news/commerzbank-ceo-dismisses-unicredit-takeover-speculation-ce7d59dad08af622