Andrea Orcel: the HVB-Commerzbank merger – a strategic opportunity for the German market

A merger between HVB (the German subsidiary of UniCredit) and Commerzbank “is one of the best deals that can be done in Europe because it brings together two complementary networks in a highly fragmented market such as Germany”. This was emphasised by Andrea Orcel, CEO of Piazza Gae Aulenti, speaking at Mediobanca’s CEO Conference. “It is a deal that has been reviewed, analysed and considered many times,” he added. “I mean more than five, because I alone was involved in five: sometimes on the initiative of HVB, other times on that of Commerzbank.” Orcel then pointed out that regarding the deal, “we have all been subjected to a substantial and very intense amount of rumour-mongering, completely without foundation”.

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