UniCredit buys 9% stake in Germany’s Commerzbank, sparking takeover talk

Italy’s UniCredit has acquired a 9% stake in Germany’s Commerzbank for €700 million, raising speculation that UniCredit’s CEO Andrea Orcel is preparing for a potential takeover of the German bank.

The purchase makes UniCredit one of Commerzbank’s largest shareholders and follows previous attempts by the Italian bank to strengthen its presence in Germany.

UniCredit has filed for regulatory approval to increase its stake in Commerzbank beyond 9.9%, if needed.

The German government sold part of its shares in Commerzbank, reducing its stake from 16.5% to 12%. While Commerzbank has acknowledged the deal as a sign of its progress, one board member expressed opposition to a potential takeover.

CEO Andrea Orcel has emphasized UniCredit’s strategic focus on value creation, driven by strict financial conditions.

This acquisition marks another step in UniCredit’s expansion strategy, as the bank looks to explore further opportunities for growth in the European banking market.