Brief: UniCredit to convert rest of Commerzbank stake into equity in 2025

Alpha Bank SA

23/07/2025 10:48

July 23 (Reuters) - UniCredit CEO Andrea Orcel tells analyst call:

TO GET TO 29% EQUITY STAKE IN COMMERZBANK BY YEAR-END

EQUITY CONSOLIDATION OF COMMERZBANK, ALPHA STAKES USES UP 130 BPS OF CAPITAL, ADDS 800 MILLION EUROS IN REVENUE

WE WILL NOT HESITATE TO PULL BACK FROM ANOTHER M&A DEAL IF IT DOESN'T ADD VALUE LIKE YOU'VE SEEN US DO IN 2021 AND NOW

WE DO NOT SEE ANY FURTHER INTERESTING M&A OPPORTUNITY AT THIS POINT IN TIME

NO DIALOGUE AT PRESENT IN RELATION TO COMMERZBANK

WE RESPECT THE FACT THAT THE OTHER SIDE IS NOT READY TO HAVE DISCUSSIONS ON COMMERZBANK

READY TO WAIT PATIENTLY ON COMMERZBANK UNLESS OUR SHAREHOLDERS TELL ME TO USE THE CAPITAL IN OTHER WAYS

LAWYERS TOLD US THAT ON BANCO BPM WE WERE IN 'COMPLETELY UNCHARTED TERRITORY'

WE WILL NEVER MOVE ON GREECE'S ALPHA UNLESS THEY WANT US DO

NO PLAN TO INCREASE THE ALPHA STAKE AT PRESENT

WE COULD OVER TIME INCREASE THE ALPHA STAKE BUT WE WOULD NEVER PUT AT RISK AN 'OUTSTANDING' RELATIONSHIP

Further company coverage: CRDI.MI

 (Reporting by Milan Newsroom)