UniCredit Gains ECB Approval to Boost Commerzbank Stake to 29.9%, Aims to Finance Banco BPM's Takeover

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Updated Mar 14, 2025, 10:47 AM

UniCredit SpA has received approval from the European Central Bank (ECB) to increase its stake in Commerzbank AG to up to 29.9%. This decision follows a successful review by the ECB, allowing UniCredit to convert its derivatives into direct shares. The approval also clears the way for UniCredit to finance Banco BPM's takeover bid. The Italian bank, led by CEO Andrea Orcel, has been pursuing a potential takeover of the German lender. Despite the ECB's approval, UniCredit has indicated that a decision on whether to proceed with a full acquisition will likely extend beyond 2025. The German Finance Ministry has stated that its position remains unchanged following the ECB's decision. Commerzbank has acknowledged the ECB's decision but stated that UniCredit's position as a shareholder remains unchanged. The German bank emphasized its focus on profitable growth and value enhancement. UniCredit is awaiting the opportunity to initiate constructive dialogue with the new German government.

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