Mergers desired by many - Lagarde on UniCredit-Commerzbank

(ANSA) - ROME, SEP 12 - European Central Bank President Christine Lagarde commented Thursday that ""cross-border bank mergers are desired by many authorities" when asked about Italy's UniCredit acquiring a 9% stake in German lender Commerzbank.
    UniCredit CEO Andrea Orcel told Bloomberg TV on Thursday that the move could be the precursor of a takeover bid, while stressing that the Italian institute was flexible and "very patient".
    "The ECB does not usually comment on individual banking institutions and the individual supervisory authority will do what it has to do in full independence," Lagarde said.
    "But cross-border bank mergers are desired by many authorities, and it will be interesting to see the developments in the coming weeks". (ANSA).