By Cristina Roca

UniCredit SpA (UCG.MI) said late Tuesday that no banking mandate has been signed after Reuters reported that the Italian bank is mulling a takeover bid for Commerzbank.

On Tuesday, Reuters reported that UniCredit has approached investment bankers and advisors for counsel regarding a potential bid for the German bank.

UniCredit said it is focused on its Transform 2019 plan, which is "based on organic assumptions."

The bank said it was responding to the speculation at the request of the Italian market authorities.

Write to Cristina Roca at cristina.roca@dowjones.com

(END) Dow Jones Newswires

May 15, 2019 01:31 ET (05:31 GMT)

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