UniCredit, Commerzbank CEOs Meet Briefly After Takeover Bid, No Merger Talks Started
Overview of UniCredit and Commerzbank Meeting
Background of the Takeover Bid
FRANKFURT, Aug 6 (Reuters) - The CEOs of UniCredit and Commerzbank briefly met on the sidelines of a private event after the Italian bank secured 48% of its German rival in a takeover bid, but their exchange did not mark the start of any negotiation, a source close to UniCredit said.
Details of the CEOs' Discussion
"They discussed the necessary accounting and other steps related to UniCredit's taking control and consolidating Commerzbank. It was not the start of any negotiation," the person said.
Future Engagements and Stakeholder Involvement
UniCredit remains open to directly engage with Commerzbank stakeholders - especially the German government and workers' representatives - as well as the governing bodies of Commerzbank's Polish unit mBank, the person said.
Reporting Credits
(Reporting by Tom Sims, Writing by Valentina Za;)
