Italian bank UniCredit increased its stake in German Commerzbank to 34.35 percent of shares. This follows from mandatory notifications on the partial results of the offer, under which shareholders pledged or transferred a further 7.58 percent. UniCredit's previous stake stood at 26.77 percent. e15.cz ↗
The bank has thus moved above the one-third threshold and strengthened its position as Commerzbank's largest individual shareholder. Its stake is now higher than that of the German state. Crossing the thirty-percent threshold had been expected after UniCredit secured shareholder pledges that allowed it to further expand its participation in the German bank. seznamzpravy.cz ↗
The move comes despite resistance in Germany to the growing influence of the Italian bank. UniCredit CEO Andrea Orcel has thereby, after almost two years, moved closer to his goal of significantly strengthening the bank's position in Commerzbank. The newly announced stake also marks another important shift in the power struggle surrounding the German financial institution. Die Zeit ↗
Further developments will depend on the results of the offer and on how German institutions and other shareholders respond to UniCredit's strengthened position. Crossing the one-third threshold gives the Italian bank greater weight in Commerzbank's future decisions and increases pressure for further negotiations on its direction. ANSA ↗
UniCredit increased its stake in Commerzbank above one third
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Sources (6)
Unicredit, con Ops al 34,35% in azioni di Commerzbank
ANSA
| 15:51 02.06.
UniCredit získala přísliby akcionářů. Její podíl v Commerzbank přesáhne 30 procent
e15.cz
| 12:59 02.06.
Unicredit und Commerzbank: Unicredit steigert Commerzbank-Anteil auf mehr als ein Drittel
Die Zeit
| 16:25 02.06.
Machtkampf um Commerzbank: Unicredit steigert Commerzbank-Anteil auf über ein Drittel
Tagesspiegel
| 15:36 02.06.
Borsa: Milano sale (+1,2%), balzo di Stm e Stellantis, giù Avio
ANSA
| 12:06 02.06.
UniCredit už si zajistila v Commerzbank více než 30procentní podíl
seznamzpravy.cz
| 11:17 02.06.
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