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Orcel meets today with the German Finance Minister

Two years after UniCredit Chief Executive Officer Andrea Orcel first knocked on the German government's door to discuss Commerzbank, he's finally set to get what he wanted.

Translated from Spanish Read in Spanish

expansion.com ·

Orcel meets today with the German Finance Minister

UniCredit's CEO Andrea Orcel is set to meet with German Finance Minister Lars Klingbeil to discuss a potential deal for Commerzbank. The talks mark a shift in Berlin's stance, which had previously opposed a deal that could become one of the largest banking transactions in nearly two decades. Commerzbank has a market value of around €45 billion and plays a crucial role in financing Germany's economy and small and medium-sized enterprises.

Berlin is likely to seek guarantees that Commerzbank will maintain its independent stock exchange listing and that decision-making will remain local. UniCredit currently holds a 47% stake in Commerzbank, while the German government holds 13%.

Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.

Read the original at expansion.com →

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