UniCredit CEO Orcel attended virtual meeting with Commerzbank, source says
MILAN, Sept 28 (Reuters) -UniCredit CRDI.MI CEO Andrea Orcel attended a virtual meeting held on Friday with Commerzbank's CBKG.DE designated CEO Bettina Orlopp, a source with knowledge of the matter told Reuters, confirming earlier Italian newspaper reports.
UniCredit declined to comment.
Italy's No. 2 bank is pressing for a tie-up after snapping up a stake earlier this month while Germany's No. 2 bank is honing its defence as it pursues a strategy of independence.
Orlopp, who was appointed Commerzbank's new CEO earlier this week, told a financial conference in London on Thursday that the two banks would meet to "exchange views" now that UniCredit was a shareholder.
UniCredit's move has sparked tensions in Germany where Commerzbank's management, employees and the nation's chancellor, Olaf Scholz, have all voiced opposition.
The Italian government has so far adopted a more cautious stance, but Deputy Prime Minister Matteo Salvini said this week he would not want UniCredit to shift its legal base to Germany as part of the deal.
On Saturday, Italian economic newspaper Il Sole 24 Ore quoted the bank as saying the issue was not being discussed as "at the moment" UniCredit "was simply an investor".
"However," it quoted the bank as saying, "UniCredit's headquarters is in Italy, it has always been in Italy and there is no reason for this to change".
Reporting by Valentina Za; writing by Angelo Amante; editing by Mark Heinrich
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