The German Commerzbank is not yet ready for discussions with the Italian counterpart UniCredit about a merger of the two large banks. The insiders reported this to Reuters news agency with knowledge of the matter.
Reportedly, Commerzbank has requested a breather, following the earlier breakdown of a merger with Deutsche Bank. According to the sources, Germany’s second bank is not yet prepared to start negotiations on a new deal.
UniCredit, the largest bank in Italy, has long had an eye on Commerzbank. ING was also mentioned as a possible buyer of Commerzbank, but according to insiders, ING is no longer interested in an acquisition.