UniCredit Bids €35B for Commerzbank, Eyes Stake Above 30%

UniCredit has launched a €35 billion bid to increase its stake in Commerzbank, potentially triggering formal merger talks. The Italian bank currently holds nearly 30% of the German lender, initially acquiring a 9% stake in September 2024. UniCredit briefed the Italian Prime Minister’s office prior to making the offer, but does not anticipate taking full ownership of Commerzbank. Despite this, the move aims to deepen its influence over the German bank. Commerzbank’s CEO, Bettina Orlopp, has pledged to improve earnings, asserting the bank’s strength as an independent entity. The bid faces strong opposition from the German government, mirroring previous resistance to a full takeover by UniCredit.