Market
Will the ECB approve UniCredit's stake increase in Commerzbank by March 2024?
3
UniCredit SpA•Commerzbank AG•German•Italian•UniCredit•Commerzbank•Banco BPM•European Central Bank•BCE
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcement from the European Central Bank
Story
UniCredit Boosts Commerzbank Stake to 28%, Irks German Government Amid BCE Decision
Dec 18, 2024, 09:40 AM
UniCredit SpA has escalated its stake in Commerzbank AG from 21% to approximately 28%, intensifying speculation about a potential takeover of the German bank. The Italian bank's move includes a direct holding of 9.5% and an additional 18.5% through financial derivatives. This increase in stake is part of UniCredit's strategy to reach a 29.9% ownership in Commerzbank, a threshold below which it is not required to launch a mandatory takeover bid under German law. The operation has been met with criticism from the German government, which has described UniCredit's approach as 'unfriendly'. UniCredit has emphasized that its current position in Commerzbank is solely an investment and does not impact its ongoing public exchange offer for Banco BPM. The European Central Bank (BCE) is expected to make a decision on UniCredit's request to increase its stake to nearly 30% by mid-March.
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No • 50%
Yes • 50%
Yes • 50%
No • 50%
Regulatory investigation initiated • 25%
No regulatory action • 25%
Regulatory approval required • 25%
Regulatory restrictions imposed • 25%
Yes • 50%
No • 50%
Major restructuring announced • 25%
No change in leadership • 25%
Change in CEO • 25%
Change in board composition • 25%
Stake remains at 28% • 25%
Stake decreases • 25%
Stake exceeds 29.9% • 25%
Stake increases to 29.9% • 25%
Other • 25%
Drops to third-largest • 25%
Becomes largest private bank • 25%
Remains second-largest private bank • 25%