Commerzbank chief Bettina Orlopp shot down an invitation from Andrea Orcel to hold informal talks about a potential tie-up with UniCredit, and has instead insisted on receiving a written proposal before engaging, according to people familiar with the situation.

Italy's UniCredit bank said on Tuesday it would not rush a possible takeover of German rival Commerzbank and was willing to walk away but would wait first for the German election's outcome.

BERLIN (Reuters) - Commerzbank's supervisory board chairman Jens Weidmann said there is little chance for an amicable merger with UniCredit after the Italian bank's surprise purchase of a hefty stake in the German lender, Handelsblatt newspaper reported.

German lender under pressure to cut costs and boost returns after unwanted approach from UniCredit. Read more at straitstimes.com.

Germany and Europe should continue on the path of expanding low-carbon energies during the second presidency of Donald Trump, a climate change sceptic, outgoing German vice chancellor Robert Habeck said on Tuesday.

UniCredit has announced plans to bring its back-office activities for securities services across Italy and Germany in house, standardizing its set-up.

Commerzbank AG stepped up its rhetoric against the approach from UniCredit SpA, further complicating the situation for the Italian lender.Most Read from BloombergHow Sanctuary Cities Are Preparing for

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Monte dei Paschi launched a near-$14 billion offer to buy counterpart Mediobanca, a fresh twist in the consolidation of Italy’s crowded banking market.

Italian lender Monte dei Paschi di Siena has launched a €13.3bn takeover offer for its larger domestic rival Mediobanca. The offer, announced on Friday, values Mediobanca’s shares at €15.99 each, a 5 per cent premium to their closing price on Thursday.