By MILAN (Reuters) – UniCredit has until March to evaluate improving its takeover bid for Banco BPM, CEO Andrea Orcel told an investor call on Wednesday according to a person who attended the virtual meeting.
UniCredit declined to comment.
With a potential move on Commerzbank (ETR:CBKG) in stand-by due to a political vacuum and a German rule that would force UniCredit to pay in cash if it bid for the rest of Commerzbank within six months of crossing a 5% ownership threshold, Orcel is targeting smaller domestic peer Banco BPM.
This post appeared first on investing.com
What's your reaction?
Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0
