MILAN: UniCredit on Monday will outline the details of “an approach to value creation” for Germany’s Commerzbank, the Italian bank said, adding it believed the German lender is insufficiently prepared for future challenges and is overly focused on short-term delivery.
UniCredit said in a statement Chief Executive Andrea Orcel would hold a conference call al 0900 CET (0700 GMT) on Monday.
The Italian lender, which has accumulated a near-30% stake in the German group, “believes that Commerzbank should reposition to be future-ready by accelerating top line growth and focusing on investing and transforming”, the statement added.
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