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Commerzbank chair calls for review of German takeover laws after UniCredit bid
Commerzbank supervisory board chairman Jens Weidmann has called for a formal review of German takeover laws following UniCredit’s acquisition of a significant stake in the lender. Weidmann criticized the Italian bank’s ability to secure effective control—reaching approximately 48% of shares—without providing shareholders an adequate control premium.
According to Weidmann, of the roughly 73% of Commerzbank shares eligible for tendering, only about 18% were actually tendered. Notably, institutional and private investors accounted for less than 3% of those tendered, with the majority of the shares coming from banks linked to UniCredit. This maneuvering has raised questions regarding potential loopholes in German regulations that allow for near-majority positions through voluntary exchange offers without triggering the same protections as mandatory offers.
In light of the takeover, Weidmann urged the German federal government to maintain its current 12% stake in Commerzbank to protect national interests and the stability of the German business location. While acknowledging that the government should eventually withdraw as part of a long-term exit strategy, he argued that remaining a shareholder is vital in the current phase. Additionally, Weidmann warned of potential domestic cost-cutting measures if UniCredit pursues its plan to achieve 1.3 billion euros in savings within the next twelve months.
Entities
Andrea Orcel · Bettina Orlopp · CleanSpark · Commerzbank · German Federal Government · German government · Infineon Technologies · Jens Weidmann · Morgan Stanley · Plug Power · Riot Platforms · UniCredit
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 7 SOURCES] The German government holds approximately 12% of Commerzbank shares. www.kapitalmarktexperten.de · www.fehmarn24.de · www.leinetal24.de · www.onetz.de · www.saarbruecker-zeitung.de · +1 more
- [● 15 SOURCES] The German government should maintain its stake in Commerzbank for the time being to protect national interests. www.kapitalmarktexperten.de · www.nachrichten-heute.net · www.fehmarn24.de · www.leinetal24.de · srnnews.com · +9 more
- [DISPUTED] UniCredit has secured a stake of approximately 48% to 50% in Commerzbank. www.kapitalmarktexperten.de · www.fehmarn24.de · www.leinetal24.de · srnnews.com · cryptobriefing.com · +4 more
- [● 13 SOURCES] The German supervisory board chair has called for a review of German takeover laws. www.kapitalmarktexperten.de · www.nachrichten-heute.net · www.fehmarn24.de · www.leinetal24.de · srnnews.com · +7 more
- [● 15 SOURCES] UniCredit secured control of Commerzbank without paying an adequate control premium to shareholders. www.kapitalmarktexperten.de · www.nachrichten-heute.net · www.fehmarn24.de · www.leinetal24.de · srnnews.com · +9 more
- [● 15 SOURCES] Only approximately 18% of the eligible Commerzbank shares were tendered during UniCredit's offer. www.kapitalmarktexperten.de · www.nachrichten-heute.net · www.fehmarn24.de · www.leinetal24.de · srnnews.com · +9 more
- [● 15 SOURCES] Institutional and private investors accounted for less than 3% of the shares tendered to UniCredit. www.kapitalmarktexperten.de · www.nachrichten-heute.net · www.fehmarn24.de · www.leinetal24.de · srnnews.com · +9 more
- [● 15 SOURCES] The German government should maintain its stake in Commerzbank for the time being to represent German interests. www.kapitalmarktexperten.de · www.nachrichten-heute.net · www.fehmarn24.de · www.leinetal24.de · srnnews.com · +9 more
- [DISPUTED] UniCredit has secured a stake of approximately 48% in Commerzbank. srnnews.com · cryptobriefing.com · www.tekedia.com
- [● 15 SOURCES] Jens Weidmann has called for a review of German takeover laws. www.kapitalmarktexperten.de · www.nachrichten-heute.net · www.fehmarn24.de · www.leinetal24.de · srnnews.com · +9 more
- [● 9 SOURCES] Of the 73% of Commerzbank shares eligible for tendering, only approximately 18% were actually tendered. www.kapitalmarktexperten.de · www.nachrichten-heute.net · srnnews.com · cryptobriefing.com · www.oldenburger-onlinezeitung.de · +3 more
- [● 9 SOURCES] Institutional and private investors accounted for less than 3% of the tendered shares. www.kapitalmarktexperten.de · www.nachrichten-heute.net · srnnews.com · cryptobriefing.com · www.oldenburger-onlinezeitung.de · +3 more