Commerzbank chief Bettina Orlopp shot down an invitation from Andrea Orcel to hold informal talks about a potential tie-up with UniCredit, and has instead insisted on receiving a written proposal before engaging, according to people familiar with the situation.

BERLIN (Reuters) - UniCredit chief Andrea Orcel wants to discuss a planned takeover of Commerzbank with the new German government and hopes for some clarity at the latest by the end of the year, he told German paper FAZ.

Commerzbank reiterated on Friday that it will not meet with UniCredit for formal discussions until it receives a specific proposal from the Italian bank, which has ruffled feathers in Berlin with its interest in a merger.