UBS chair comments on possible acquisition rumours

Weber Grill

The urge to merge ?


Reuters reports that UBS chairman Axel Weber said the bank was focused on meeting new bank safety rules rather than pursuing acquisitions, pouring cold water on speculation that the lender is about to buy a stake in Germany's Commerzbank.

The Wall Street Journal reports that Weber said: 'No, don't worry, we are very focused on implementing our strategy.

'Although I wouldn't generally rule out acquisitions in the current environment, this is not on the near-term agenda', Weber said.

The newspaper also reports that UniCredit's CEO has also denied interest in Commerzbank, saying '(a takeover) isn't being discussed'.

UBS chairman says not focused on acquisitions in short term

UBS Chairman: No Acquisitions Planned Short Term

UniCredit CEO Denies Interest in Germany's Commerzbank



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