Unicredit Delays Decision on Commerzbank Takeover Amid Political Resistance

The Italian bank signals a potential offer by late 2025 or early 2026, citing the need for government support and further evaluations.

Unicredit CEO Andrea Orcel announced that a decision on a potential Commerzbank takeover will be delayed until late 2025 or early 2026, citing up to five more quarters for evaluation.
The delay allows Unicredit to engage with Germany's new government, as the bank emphasizes that government backing is essential for the acquisition.
Unicredit currently holds a 28% stake in Commerzbank, but crossing the 30% threshold would legally require a formal takeover offer, pending regulatory approval.
Orcel addressed concerns over potential job cuts, highlighting Unicredit's track record of retraining and investing in staff rather than downsizing in previous mergers.
The CEO stressed the strategic importance of consolidating the fragmented European banking market and highlighted the potential benefits for Germany's Mittelstand businesses.