European Central Bank Approves UniCredit's Increased Stake in Commerzbank

UniCredit receives authorization to raise its Commerzbank holdings to 29.9%, a potential step toward a full takeover, though significant hurdles remain.

The European Central Bank (ECB) has authorized UniCredit to increase its stake in Commerzbank to up to 29.9%, just below the threshold requiring a public takeover offer.
UniCredit currently holds 28% of Commerzbank, with 9.5% in direct shares and 18.5% via derivatives, which require further regulatory approval for conversion.
The Italian bank emphasized that additional steps, including approval from German financial regulators and engagement with Germany's new government, are necessary before proceeding further.
Germany's outgoing government and Commerzbank's leadership have expressed strong opposition to a potential takeover, describing UniCredit's approach as unfriendly.
The German federal government remains a key stakeholder in Commerzbank, holding a 12% share following its partial nationalization during the 2008 financial crisis.