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Commerzbank: Aims to Stay Independent After Report of Scrapped Talks With UniCredit

   By Cristina Roca 
 

Commerzbank AG's strategy aims to create the conditions for the bank to remain independent, the company said Wednesday.

Earlier on Wednesday, the Financial Times reported, citing unnamed sources, that the German lender and Italy's UniCredit SpA had been planning to discuss a potential merger earlier this year, but that the talks were shelved after Russia invaded Ukraine.

Commerzbank and UniCredit both declined to comment on the report.

Shares in the lenders were little affected. At 0827 GMT, UniCredit shares traded 0.2% lower, while Commerzbank shares were up 1.4%.

 

Write to Cristina Roca at cristina.roca@wsj.com

 

(END) Dow Jones Newswires

May 18, 2022 04:59 ET (08:59 GMT)

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