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Rothschild were not immediately available for comment.
Italian daily MF said in an unsourced report on Friday that
talks between the two banks over a tie-up or acquisition were
continuing.
It added that UniCredit was working with top-flight consultants,
including Rothschild's Daniel Bouton.
Bouton was a former chairman of Societe Generale, resigning in
2009 after a decade at the head of the French bank in the
aftermath of a rogue trading scandal the previous year.
UniCredit's Chief Executive Jean Pierre Mustier is also a former
manager at Societe Generale and his appointment to the position
in 2016 rekindled speculation about the two joining forces.
In June, the FT reported that UniCredit was considering merging
with its French rival, adding that Italy's volatile political
situation had pushed back the timetable for a deal.
When asked earlier in August about potential acquisitions,
Mustier said the bank's plan up to 2019 was based on organic
growth but said the next plan could also consider external
growth.
"Europe needs strong pan-European banks and we intend to be a
pan-European winner," he said.
At 1126 GMT UniCredit shares were up 1 percent, while the
European banking index <.SX7P> was up 0.5 percent.
(Reporting by Paola Arosio and Stephen Jewkes; Additional
reporting by Inti Landauro and Clara Denina; Editing by Kirsten
Donovan)
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