The chief executive of Italian bank UniCredit has suggested that a full acquisition of German rival Commerzbank could be completed as early as the fourth quarter of this year. Andrea Orcel made the statement during an interview with CNBC on Thursday, indicating that the deal is a possibility within that timeframe.
Orcel’s comments come amid ongoing speculation about consolidation in the European banking sector. UniCredit already holds a stake in Commerzbank, and a full takeover would create one of the largest banking groups in the region. The CEO did not provide specific details on the terms or timeline, but noted that the acquisition could “potentially” occur in the last three months of the year.
Market observers have been watching for developments since UniCredit increased its stake in Commerzbank earlier this year. The potential deal would require regulatory approvals and is subject to negotiations between the two banks. Neither UniCredit nor Commerzbank has officially confirmed any formal offer.
If completed, the acquisition would mark a significant shift in the European banking landscape, combining Italian and German financial institutions under one umbrella. Analysts say such a merger could lead to cost savings and increased competitiveness, but also pose integration challenges.
Orcel’s remarks have reignited interest in cross-border bank mergers, a topic that has gained traction as European banks seek to strengthen their positions against global competitors. The timeline remains uncertain, but the CEO’s statement suggests that a decision could come within months.