UniCredit nears controlling stake in Germany's Commerzbank

UniCredit of Italy has increased its ownership of Germany's Commerzbank to an effective 47.59 % of the shares, combining a direct holding of 44.37 % with financial instruments and options. The German federal government, which still owns about 12 % of Commerzbank, has publicly rejected any sale of its remaining stake, leaving the question of a full takeover unresolved.

The market has reacted with pressure on Commerzbank's share price, which has fallen below its recent highs. The strategic move is part of UniCredit's broader ambition to reshape Europe's banking landscape, an effort that has also drawn attention to potential expansion into Poland. The developments underscore growing tension between the Italian lender's expansion goals and German political resistance.

UniCredit's push for a dominant position could influence competition in the European banking sector and affect shareholders and regulators in both countries.