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Commerzbank and UniCredit CEOs Engage in Second Round of Talks
Commerzbank and UniCredit have held a second round of talks focusing on Commerzbank's third-quarter earnings, with no discussion of a potential merger.
In a significant development in the European banking sector, Commerzbank and UniCredit have engaged in a second round of talks, as reported by Handelsblatt. This follows UniCredit's acquisition of a substantial stake in Commerzbank earlier this year. The discussions, which took place via video conference, were primarily focused on Commerzbank's third-quarter earnings. Notably, the possibility of a merger or tie-up was not on the agenda, according to sources familiar with the matter.
Commerzbank's CEO, Bettina Orlopp, participated in the talks, while UniCredit's CEO, Andrea Orcel, was absent. The identity of the UniCredit representative remains unclear. This meeting marks the second interaction between the two banks since UniCredit's stake acquisition was disclosed in September. The first round of talks occurred shortly after the announcement.
The discussions have sparked interest in the financial community, given the potential implications for the European banking landscape. However, both banks have remained tight-lipped about the specifics of the talks, with UniCredit declining to comment. The focus on earnings rather than strategic partnerships suggests a cautious approach by both parties as they navigate the complexities of cross-border banking relationships.
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