UniCredit is open to mergers and acquisitions if financial conditions are favourable, CEO Andrea Orcel stated in an interview with La Sicilia on Friday. However, Orcel emphasised that such deals are not essential for the bank’s strategy.
“M&A is a possibility, not a compulsory choice,” Orcel said. Italy’s second-largest bank has been linked to potential deals in Italy and Europe, including smaller Italian lender Banco BPM and Germany’s Commerzbank, according to sources.
Orcel noted that UniCredit will evaluate opportunities if shareholders are willing to sell under favourable conditions. If suitable targets are not found, the bank will continue its share buyback program. In 2021, Orcel ended negotiations with Italy’s Treasury to acquire Banca Monte dei Paschi di Siena.
