(Bloomberg) -- Commerzbank AG Chief Executive Officer Bettina Orlopp voiced criticism of the way UniCredit SpA has built a stake in it, stepping up her rhetoric against the Italian lender.
UniCredit’s approach to Commerzbank is “not what you usually would expect if you really want to do it in a friendly way,” Orlopp said on Bloomberg TV. She also said she will “focus on our own strategy, which is very successful,” while waiting for UniCredit to make up its mind if it wants to launch a takeover bid.
The Italian lender bought a major Commerzbank stake in September and has said it’s considering an acquisition. CEO Andrea Orcel used a government sale of shares in Commerzbank for the surprise move, which has since been criticized by various German government officials.
Commerzbank and UniCredit on Wednesday each posted earnings that topped analyst forecasts.
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