September 22, 2017 / 5:37 PM / 3 years ago

UniCredit deputy chairman dismisses report of Commerzbank interest

Unicredit bank logo is seen in the old city centre of Siena, Italy June 29, 2017. REUTERS/Stefano Rellandini

COURMAYEUR, Italy (Reuters) - A report this week that UniCredit (CRDI.MI) might be interested in merging with Germany’s state-backed Commerzbank (CBKG.DE) is nonsense, the Italian bank’s Deputy Chairman Vincenzo Calandra Buonaura told journalists on Friday.

“It’s rubbish,” Calandra Buonaura said, speaking on the sidelines of a banking event in the Alpine resort of Courmayeur.

Reuters quoted two sources this week as saying that UniCredit, Italy’s largest bank, had recently told Berlin it was interested in eventually merging with Commerzbank, a combination that would create one of Europe’s biggest banks.

Reporting by Giulio Piovaccari, writing by Agnieszka Flak; Editing by Crispian Balmer

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