(Bloomberg) -- Incoming Commerzbank AG Chief Executive Officer Bettina Orlopp said the lender’s leadership will have a meeting with UniCredit SpA on Friday as the Italian lender prepares a potential takeover.
That will be the first encounter since UniCredit started building a major stake in the German lender earlier this month, Orlopp said at an investor conference hosted by Bank of America.
Commerzbank earlier on Thursday said it’s seeking to shore up investor support after UniCredit took a 21% stake and said a full takeover is an option.
While the German government, which holds 12% in Commerzbank, opposes an acquisition, it has also indicated there’s little it can do to prevent the Italian rival from raising its stake.
An influential shareholder has called on Commerzbank to engage with its suitor.
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