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Acquisition of Commerzbank by UniCredit Unlikely, Says German Chancellor Friedrich Merz
May 19, 2025
As per German Chancellor Friedrich Merz, Germany does not anticipate that UniCredit will pursue a full acquisition of Commerzbank in the near future. UniCredit currently holds a 28% stake in Commerzbank through financial derivatives and has the ECB’s approval to increase this to 29.9%. However, under German law, owning 30% or more would necessitate a formal takeover offer. Merz emphasized that the current stake is unlikely to cross the 30% threshold in the near future. He also confirmed that he did not discuss the potential transaction with Italian Prime Minister Giorgia Meloni due to the current inactivity on the matter. Merz has previously expressed strong opposition to a full takeover of Commerzbank. In 2024, UniCredit’s aggressive acquisition strategy, including the use of derivatives to build its stake, was perceived by German officials as a potential hostile takeover. While UniCredit has expressed interest in a full acquisition of Commerzbank, both German political leaders and the bank’s management have shown resistance.
Both UniCredit and Commerzbank’s dollar bonds traded stable.
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