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FRANKFURT (Reuters) - UniCredit CEO Andrea Orcel approached German lender Commerzbank's management earlier on Wednesday inviting the bank to explore merger talks, a source with knowledge of the matter told Reuters.
Italy's UniCredit announced on Wednesday it had bought a 9% stake in Commerzbank.
UniCredit's approach is the strongest indication yet that the Italian lender wants to buy Commerzbank.
A spokesperson for Commerzbank, which said it was holding a board meeting later on Wednesday to discuss UniCredit, neither confirmed not denied an approach had been made. UniCredit was not immediately available to comment.
(Reporting by John O'Donnell; Writing by Tommy Reggiori Wilkes; Editing by Elisa Martinuzzi)
