--UniCredit S.p.A. (UNCFF), whose plans for a bid on Germany's Commerzbank AG (CRZBY) were at an advanced stage, has put those plans on hold after being told by the German lender it wasn't ready to hold negotiations on a tie-up, Reuters reported Monday, citing "four sources."

--Commerzbank said it wanted time following the collapse of its merger talks with Deutsche Bank (DB) before it entertained any other offers, the report said.

--One of the sources said, "Commerzbank told UniCredit they need time to think about the best course of action," according to the report.

--Neither UniCredit nor Commerzbank would comment, the report said.

 

Full story: https://www.reuters.com/article/us-commerzbank-m-a-unicredit-exclusive/exclusive-italys-unicredit-puts-possible-commerzbank-bid-on-ice-for-now-sources-idUSKCN1TP1S0

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

June 24, 2019 13:06 ET (17:06 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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