ECB allows UniCredit to go beyond 30% stake in Commerzbank
The European Central Bank has authorised Italy's UniCredit to raise its stake in Germany's Commerzbank above the 30% threshold, with no upper limit. UniCredit is expected to hold about 50% of voting rights by year-end.
The European Central Bank (ECB), which supervises the eurozone's largest lenders, on 15 October gave Milan-based Italian bank UniCredit permission to exceed a 30% shareholding in Germany's Commerzbank and to keep increasing its holding. The decision clears the way for UniCredit to take control of Commerzbank, a move that could significantly reshape the balance of power in European banking.
What the decision covers
The ECB authorisation sets no upper limit on UniCredit's stake in Commerzbank. The remaining regulatory steps and the conditions needed to finalise the offer for Commerzbank are expected to be completed towards the end of the year.
At that point UniCredit would hold roughly 50% of Commerzbank's voting rights and could take control of the bank. According to the source, the Milan lender's control of the German bank will take effect from 2027.
The bank's assessment
UniCredit describes the decision as a key milestone in its acquisition of Commerzbank. The bank stresses that the ruling confirms the ECB's positive assessment of the transaction and its confidence in UniCredit's solid fundamentals and strong position within the European banking sector.
