UNICREDIT CEO ORCEL SAYS HAVE TIME TO SPEAK TO SHAREHOLDERS ON BOTH SIDES TO GET TO PROPOSITION ON BANCO BPM THAT EVERYONE IS COMFORTABLE WITH
LONDON, Nov 25 (Reuters) -Any UniCredit CRDI.MI bid to buy Germany's Commerzbank CBKG.DE would follow the bank completing the integration of Banco BPM BAMI.MI, CEO Andrea Orcel said on Monday after his bank unveiled a surprise offer for its smaller Italian rival.
Orcel said UniCredit was "never going to integrate two banks at one time", while reiterating that UniCredit's stake in Commerzbank represented an investment and that the Milan-based lender was prepared to take its time before taking a next step.
Reporting by Valentina Za; Writing by Tommy Reggiori Wilkes; Editing by Dhara Ranasinghe
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