Commerzbank chief says lender is aligned with Berlin
The comment follows a meeting between UniCredit's chief executive and Germany's finance minister.
Published
Commerzbank's chief executive said the bank is aligned with the German government, after UniCredit's chief executive, Andrea Orcel, met with finance minister Lars Klingbeil.
Klingbeil has previously said Germany backs Commerzbank's 40,000 employees, and has said any future talks about the bank need to be conducted responsibly.
UniCredit has already secured board approval for a capital raise as part of its approach to Commerzbank, and Orcel has held talks with German officials before. The chief executive's statement repeats a position the government has already staked out, and it does not change the terms on which UniCredit is pursuing the German lender.
For investors watching the takeover, the exchange adds little new information. Both sides are restating positions they already held, and the dynamics of the approach remain as they were before the meeting.