Overview

• The Bundeskartellamt has approved Unicredit's request to increase its stake in Commerzbank to up to 30%, solidifying its position as a key minority shareholder.
• Unicredit currently holds 9.5% of Commerzbank shares, making it the second-largest shareholder after the German state, which owns 12%.
• The Italian bank has also secured options and derivatives providing access to an additional 18.5% stake in Commerzbank.
• The European Central Bank and Austrian cartel authorities had previously endorsed Unicredit’s plans, paving the way for this latest approval.
• This move has reignited debates in Germany about banking independence, employment implications, and the broader impact of consolidation in the European financial sector.