UniCredit and Alpha Bank Chiefs Eye Romania Growth After Tie-Up [BNN Bloomberg (Canada)]
ALPHA SVCS & HLDGS S/ADR (ALBKY)
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Source: BNN Bloomberg
The tie-up with Alpha Bank SA is going well and cooperation could end up going much further than the distribution agreement they had initially planned. After creating the No. 3 lender in Romania, the two firms may even team up on another takeover in that country once the integration of their two units is completed, he said in a joint interview with Alpha Bank CEO Vassilios Psaltis. “We are both committed to Romania, we both like Romania, we both see a lot of value there,” Orcel said in the interview on Thursday afternoon. “If and when there were to be an opportunity, we would also consider acquisitions in cooperation.” For Orcel, a consummate dealmaker, the Alpha Bank tie-up is arguably among the smaller transactions of his career. But it highlights his creative approach at a time when national interests and the unfinished project for a European banking union often stand in the way of cross-border deals. Born out of a desire to boost UniCredit's size in Romania, the Alpha Bank ti
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