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UniCredit CEO hopes Generali will agree to commercial deal in coming months

By Reuters News

Nov 9 (Reuters) - UniCredit Chief Executive Andrea Orcel and Chief Financial Officer Stefano Porro tell analysts:

  • AFTER SUPERVISORY APPROVALS IT WILL IMMEDIATELY ASK COMMERZBANK TO CONVENE EGM, CEO SAYS

  • COMBINATION BETWEEN COMMERZBANK AND HVB COULD POTENTIALLY TAKE PLACE EARLIER THAN EXPECTED, CEO SAYS

  • DISCUSSIONS WITH ALL COMMERZBANK STAKEHOLDERS HAVE IMPROVED AS WE NEAR MOMENT WHEN WE TAKE CONTROL, CEO SAYS

  • ACTUAL DETAILED DISCUSSIONS CAN TAKE PLACE ONLY ONCE ALL AUTHORISATIONS ARE IN PLACE, CEO SAYS

  • PHASE 1 ON COMMERZBANK IS APPLYING UNICREDIT UNLOCKED STRATEGY, NO INTEGRATION, CEO SAYS

  • PHASE TWO IS INTEGRATION BETWEEN HVB AND COMMERZBANK, CEO SAYS

  • PHASE 1 WE THOUGHT WOULD LAST 2-3 YEARS BUT WE CAN DO IT FASTER IF EVERYONE ONBOARD, CEO SAYS

  • M&A LAW TAKES TIME SO FORGET COMMERZBANK PHASE 2 IN 2027, CEO SAYS

  • WE'LL DO EVERYTHING POSSIBLE NOT TO TOUCH THE COMMERCIAL NETWORKS OF COMMERZBANK AND HVB, CEO SAYS

  • WITH GENERALI THERE IS A LOT OF VALUE THAT CAN BE CREATED VIA CLOSER COOPERATION AND AGREEMENT, CEO SAYS

  • CLOSER COOPERATION WITH GENERALI DOES NOT REQUIRE CONTROL, CEO SAYS

  • WE CAN HELP GENERALI IN GEOGRAPHIES WHERE WE BOTH ARE PRESENT, IT'S THEIR DECISION, CEO SAYS

  • WE HOPE WE CAN CLOSE AN AGREEMENT WITH GENERALI IN THE COMING MONTHS, CEO SAYS

  • WE HAPPY WITH CURRENT COMMERZBANK STAKE, CEO SAYS

  • WE NOT READY AND DO NOT INTEND ANY TIME SOON TO LAUNCH MBANK BID, CEO SAYS

  • TO AVOID MBANK OFFER WE NEED TO STAY BELOW 50% OF COMMERZBANK, CEO SAYS

  • WE WOULD CHANGE OUR MIND ON CROSSING 50% IF ALL COMMERZBANK STAKEHOLDERS WERE SUPPORTIVE, CEO SAYS

  • FOR THE FORESEABLE FUTURE A NEAR 50% COMMERZBANK STAKE IS THE NUMBER, CEO SAYS

  • 10 EURO EPS TARGET FOR UNICREDIT IN 2028 DOES NOT INCLUDE ANY COMMERZBANK COMBINATION WITH HVB, ONLY 'UNLOCKED', CFO SAYS


Further company coverage: CRDI.MI

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