UniCredit Poised for Approval to Increase Commerzbank Stake to 30%

Berlin: UniCredit Andrea Orcel announced on Wednesday that Italy’s second-largest bank is on track to receive “a probable all-clear to go up to 30% of Commerzbank by the end of the month”.

According to Ansa News Agency, UniCredit had previously disclosed that it had amassed a stake of approximately 28% in Commerzbank. This year, the European Central Bank granted approval for UniCredit to increase its stake to 29.9%, which is just below the 30% threshold that would necessitate a formal takeover offer under German law.

During the Goldman Sachs European Financial Conference 2025 in Berlin, Orcel stated, “In the summer we will make a decision on whether to reach 30% or not.”

Despite UniCredit’s plans, the German government is opposed to the idea of UniCredit taking over Commerzbank. Chancellor Friedrich Merz emphasized his government’s commitment to maintaining a “strong and independent Commerzbank” in a letter addressed to workers, which was published on Tuesday on LinkedIn by Sascha Uebel, the chairman of the Commerzbank works council.

Merz criticized UniCredit’s approach as “uncoordinated and hostile,” labeling it as “unacceptable.”