UniCredit CEO says Commerzbank shares are now too far 'beyond the fundamentals' for a takeover offer

"Secondly, in our opinion the share price has gone well beyond the fundamentals. There is a lot of activity which is directed at keeping the share price at higher level than you see every day, but we're patient," Orcel said. CNBC has reached out to Commerzbank for comment. This breaking news story is being updated. UniCredit CEO Andrea Orcel on Wednesday told CNBC that the share price of potential takeover target Commerzbank is currently too prohibitively expensive for a merger deal. UniCredit has built a s ...