UniCredit Moves to Gain Control of Germany's Commerzbank

Italian bank UniCredit has increased its stake in German lender Commerzbank to about 48%, positioning itself to take operational control. UniCredit CEO Andrea Orcel said the group aims to finalize a full takeover by the fourth quarter of 2026 or early 2027, pending approval from the European Central Bank and German regulators. Former Bundesbank president Jens Weidmann, now Commerzbank chairman, announced readiness for constructive talks with UniCredit, acknowledging the new balance of power at the upcoming shareholders’ meeting.

The German government, holding roughly 12% of Commerzbank, has expressed opposition to the transaction but indicated it will not block the deal, while the ECB’s decision on further share‑holding increases remains pending. UniCredit has raised its profit targets, forecasting net earnings above €11 billion for 2026, citing the anticipated synergies and a double‑digit return from its Commerzbank investment. The news caused a sharp drop of about 5% in Commerzbank’s share price as investors assess valuation and integration risks.