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23m ago

UniCredit Signals Year-End Move to 30% Stake in Commerzbank as Takeover Trigger Nears

Commerzbank’s chief says any formal bid would be judged solely on shareholder value.

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Der Commerzbank-Vorstand Michael Kotzbauer hat vor den Folgen einer möglichen Übernahme des Geldhauses durch die italienische Großbank Unicredit gewarnt.

Overview

  • CEO Andrea Orcel said UniCredit expects to hold about 30% of Commerzbank by year-end, giving the clearest timeline yet.
  • UniCredit currently owns just over 26% and can lift its holding toward roughly 29% by converting remaining financial instruments.
  • Crossing 30% would require a public offer under German takeover rules, though Orcel left the question of any bid’s timing open.
  • Commerzbank CEO Bettina Orlopp said nothing has fundamentally changed so far and that shareholders would decide on any proposal based on value creation.
  • Political leaders, management and labor groups in Germany remain opposed over job and branch fears, while Orcel pledged investment, no branch cuts and mainly headquarters-focused reductions.