UniCredit Moves to Trigger Talks for Commerzbank

UniCredit has stepped up its pursuit of Commerzbank in a European takeover battle, aiming to increase its stake in the German lender beyond the 30% threshold that would require a takeover bid under German law. UniCredit previously built a holding to just under 30% after taking a 9% stake in September 2024.

UniCredit said it plans a share swap that would imply a €30.8 price per Commerzbank share, or about €34.7bn in total. The move faces strong opposition from Berlin, which still holds more than 12% of Commerzbank and has been described as keen to retain the bank’s independence. Commerzbank’s share price rose to €31.30 in early trading on Monday.