UniCredit Snaps Up 4.5% Stake in Commerzbank from German Government

UniCredit has acquired a 4.5% stake in Commerzbank from the
German government. The purchase was made after discussions between the Italian
bank and the German authorities.

UniCredit’s CEO, Andrea Orcel, stated in an
interview with the Italian newspaper Il Messaggero that the German government
views UniCredit as a reliable and suitable investor.

UniCredit Becomes Largest Shareholder

Andrea Orcel, UniCredit’s CEO, Source: LinkedIn

Orcel mentioned that he had travelled frequently between
Germany and his family’s holiday location this summer as part of the
negotiations. He emphasized that the transaction reflects trust in UniCredit’s
stability and intentions.

The bank had already acquired a similar stake in
Commerzbank from the market, making it the largest private shareholder in the
German bank.

Despite UniCredit’s increasing involvement, Orcel ruled out
the possibility of a hostile takeover or unsolicited bid for additional shares.
He described such actions as aggressive, saying they are not part of
UniCredit’s current strategy.

Instead, the bank will seek regulatory approval
to potentially increase its stake to 29.9%, the maximum threshold before
launching a full takeover.

Sale Sparks Controversy in Germany

The outcome of the sale has caused some controversy in
Germany. Reports suggest that the government did not anticipate UniCredit’s
interest, though the bank ultimately emerged as the highest bidder in the
government’s auction for the stake.

In a separate interview with the German newspaper
Frankfurter Allgemeine Zeitung (FAZ), Orcel confirmed that UniCredit is not
under pressure to raise its stake in Commerzbank. He also noted that the bank
may consider selling its current holdings in the future if conditions change.

UniCredit has acquired a 4.5% stake in Commerzbank from the
German government. The purchase was made after discussions between the Italian
bank and the German authorities.

UniCredit’s CEO, Andrea Orcel, stated in an
interview with the Italian newspaper Il Messaggero that the German government
views UniCredit as a reliable and suitable investor.

UniCredit Becomes Largest Shareholder

Andrea Orcel, UniCredit’s CEO, Source: LinkedIn

Orcel mentioned that he had travelled frequently between
Germany and his family’s holiday location this summer as part of the
negotiations. He emphasized that the transaction reflects trust in UniCredit’s
stability and intentions.

The bank had already acquired a similar stake in
Commerzbank from the market, making it the largest private shareholder in the
German bank.

Despite UniCredit’s increasing involvement, Orcel ruled out
the possibility of a hostile takeover or unsolicited bid for additional shares.
He described such actions as aggressive, saying they are not part of
UniCredit’s current strategy.

Instead, the bank will seek regulatory approval
to potentially increase its stake to 29.9%, the maximum threshold before
launching a full takeover.

Sale Sparks Controversy in Germany

The outcome of the sale has caused some controversy in
Germany. Reports suggest that the government did not anticipate UniCredit’s
interest, though the bank ultimately emerged as the highest bidder in the
government’s auction for the stake.

In a separate interview with the German newspaper
Frankfurter Allgemeine Zeitung (FAZ), Orcel confirmed that UniCredit is not
under pressure to raise its stake in Commerzbank. He also noted that the bank
may consider selling its current holdings in the future if conditions change.

This post is originally published on FINANCEMAGNATES.

  • Related Posts

    StoneX Eyes Derivatives Market with US Futures Broker R.J. O’Brien Acquisition

    StoneX Group has announced plans to acquire R.J. O’Brien & Associates, a US futures brokerage firm. The deal is expected to close later this year. According to the company’s report,…

    Hantec Markets UK Returns to Profit in 2024 as Equity Rises to £5.5 Million

    Hantec Markets Limited, the UK subsidiary of the global forex and CFD broker, has returned to profitability for the financial year ended 31 December 2024. The company disclosed the figures…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    What is the Global Debt Impact on U.S. Dollar

    • April 14, 2025
    What is the Global Debt Impact on U.S. Dollar

    Gold, Silver, and the Dollar in 2025

    • April 14, 2025
    Gold, Silver, and the Dollar in 2025

    Mastering the True Strength Index: A Comprehensive Guide for Traders

    • April 14, 2025
    Mastering the True Strength Index: A Comprehensive Guide for Traders

    StoneX Eyes Derivatives Market with US Futures Broker R.J. O’Brien Acquisition

    • April 14, 2025
    StoneX Eyes Derivatives Market with US Futures Broker R.J. O’Brien Acquisition