Commerzbank is set to appoint CFO Bettina Orlopp to lead negotiations with UniCredit after the Italian bank acquired a 9% stake in the German lender, sources revealed. Commerzbank’s supervisory board will discuss this move during its upcoming strategy meetings near Frankfurt next week.
Despite entering talks, Commerzbank’s management remains opposed to a potential merger with UniCredit. However, the decision on Orlopp’s involvement could come as early as Tuesday, with further developments expected during the two-day meeting.
UniCredit’s acquisition of the stake raises speculation about a possible takeover, even as Commerzbank’s current CEO, Manfred Knof, plans to step down by the end of 2025. The German bank, with over 42,000 employees and handling a third of the country’s foreign trade payments, plays a crucial role in Europe’s largest economy.
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