UniCredit CEO tells CNBC acquisition of Commerzbank could happen in fourth quarter

UniCredit is aiming to exercise control of Commerzbank in the fourth quarter, the CEO of the Italian bank told CNBC in an exclusive interview.Speaking with CNBC's "Europe Early Edition," UniCredit CEO Andrea Orcel said the bank is happy with its position in Commerzbank, with the bank now closing in on full control of the German lender, having upped its stake to 48%.Orcel said the Italian bank is firing on all cylinders, having raised its full-year guidance after posting its best-ever second-quarter and first-half results Thursday. Asked when a full acquisition could take place, Orcel told CNBC's Carolin Roth that certain steps still need to happen."With respect to the normal regulatory environment and antitrust, and what would allow us to take ownership of tendered shares and therefore exercise control, we think now potentially in Q4, maybe later, and that would mark the moment when we go in.""That would mark the moment when we go in," the CEO said, adding that they would not wait for the AGM in May.He said that the two banks remain "very different," adding that a number of alignments need to occur before any full merger takes place. Shares in UniCredit were 2.3% lower in morning t...