Unicredit has applied to the German Federal Cartel Office for approval to acquire a minority stake of up to 29.99% in Commerzbank. Currently, Unicredit owns about 28% of the bank, and this initiative is part of its strategy to navigate regulatory requirements.

Surpassing the 30% threshold would necessitate mandatory takeover bids in Germany. The Cartel Office is assessing the competitive implications of this acquisition, which includes:

• An initial review period of one month.
• A potential detailed investigation lasting four months.

Additionally, the European Central Bank’s banking supervisory authority is reviewing Unicredit’s intentions. This review focuses on the suitability of investors holding ten percent or more of a bank as shareholders. Under the leadership of CEO Andrea Orcel, Unicredit acquired a notable stake in Commerzbank in September 2024, taking advantage of the German state’s partial exit and securing a 4.5% stake. This acquisition has contributed to its overall control of approximately 28% of the shares, including 9.5% held directly and 18.5% through financial instruments.

📎 Related coverage from: finews.ch