FRANKFURT (Reuters) -Commerzbank CEO Bettina Orlopp on Wednesday labelled UniCredit’s approach for a potential merger as “unfriendly” and said that any deal would likely hurt revenue.
Orlopp also said a focus on cutting costs under any deal would not be easy or free of risk.
“It requires really a lot of work, attention, time, and money to achieve that, specifically when it comes to a rather unfriendly large-scale transaction,” Orlopp said at a financial conference.
(Reporting by Tom Sims, Editing by Miranda Murray)
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