UniCredit submits takeover provide for Commerzbank | EUROtoday

As of: March 16, 2026 • 10:12 a.m

UniCredit needs to purchase Commerzbank. The main Italian financial institution has now submitted an official takeover provide for the group. Recently there was resistance in politics and administration.

UniCredit submitted an official, voluntary takeover provide for the second largest listed German financial institution on Monday. The homeowners of the Frankfurt monetary establishment acquired 0.485 new UniCredit papers for every Commerzbank share, as the foremost Italian financial institution introduced.

Before the provide may be launched, UniCredit nonetheless wants the approval of a unprecedented normal assembly. A choice on the capital improve obligatory for this needs to be made by May 4, 2026. That could be only a few days earlier than the Commerzbank normal assembly, which is scheduled for May twentieth.

“Our message to Commerzbank is: It’s time to talk,” stated UniCredit boss Andrea Orcel in a convention name on Monday. He can also be striving for a “constructive dialogue” with different Commerzbank shareholders.

Orcel: Major European different to US banks

Orcel repeatedly said that Europe wanted bigger banks to compete with the robust US monetary establishments. UniCredit is already represented within the German banking market by means of HypoVereinsbank.

“The offer aims to overcome the 30 percent hurdle provided for in German takeover law and to promote a constructive dialogue with Commerzbank and its stakeholders in the coming weeks,” stated UniCredit.

According to its personal info, it at present controls 29.9 % of Commerzbank shares straight or by means of futures transactions. From the brink of 30 %, UniCredit would have been obliged to make a takeover provide, which might in all probability have been greater.

UniCredit is already the most important shareholder

An unsuccessful sale of Commerzbank shares by the federal authorities helped UniCredit to affix the Frankfurt monetary establishment in September 2024. Since then, the Italians have step by step elevated their provide.

UniCredit is already the most important shareholder in Commerzbank. Experts had been anticipating a takeover for months. UniCredit is thus embarking on a confrontation course with Commerzbank administration, worker representatives and the federal authorities, which reject a takeover.

Orcel is hoping for a liberation with the provide: “We are absolutely open to finding solutions in discussions with German politicians that make everyone happy.” It’s about placing an finish to the backwards and forwards of the previous few months, which has introduced nothing. Without this push, “we would have descended into hostility and aggression,” Orcel stated.

The federal authorities holds shares

After the worldwide monetary disaster, the German state protected Commerzbank from attainable collapse. The federal authorities now holds a very good 12 % of the shares; Chancellor Friedrich Merz (CDU) stated previously that the federal authorities is counting on a “strong and independent Commerzbank.”

The ver.di union additionally emphasised that they have been in opposition to a sale of Commerzbank: “Andrea Orcel’s repeated, uncoordinated actions confirm our fears – these are hostile takeover activities, not confidence-building measures.”

Hesse Prime Minister Rhine reacts cautiously

Hesse’s Prime Minister Boris Rhein reacted cautiously to the Italian financial institution UniCredit’s takeover provide for Commerzbank. “We will examine and evaluate the new situation openly and responsibly,” stated the CDU politician.

“The benchmark for us is and remains that the European financial center of Frankfurt am Main, Europe’s number 1, is strengthened and not weakened,” he added. In addition, the pursuits of the workers and prospects of Commerzbank, an necessary financier of medium-sized companies, have to be “appropriately taken into account” in all discussions, emphasised Rhein.

Commerzbank shares rose on the inventory alternate by as much as 4.6 %. UniCredit shares fell barely. European financial institution shares have fallen considerably in latest weeks in view of the Iran warfare and the scary penalties.