UniCredit Raises Stake in Commerzbank to 28% with 9.5% Direct Shares and 18.5% in Derivatives, Heightening Takeover Speculation

Dec 18, 2024, 08:35 AM

UniCredit has increased its stake in Commerzbank to approximately 28%, enhancing Chief Executive Officer Andrea Orcel's pursuit of the German lender. This move, which involves a combination of direct ownership and derivatives, raises speculation about a potential takeover of Germany's second-largest private bank. The Italian bank's stake now consists of about 9.5% in direct shares and around 18.5% through derivative instruments. The increase in ownership is seen as a strategic maneuver amidst ongoing discussions regarding the future of Commerzbank, particularly in light of challenges facing the German economy. UniCredit has expressed ambitions to potentially raise its stake to 29.9% in the future.