UniCredit’s 48% Stake in Commerzbank Accelerates Acquisition Push

Italian banking group UniCredit has raised its holding in Germany’s Commerzbank to roughly 48 percent, positioning itself for a possible full takeover that would become the largest European bank deal in two decades. CEO Andrea Orcel signalled readiness to negotiate with Commerzbank’s supervisory board, urging talks after the stake increase and outlining expected synergies of about €1.2 billion and a boost to UniCredit’s CET1 ratio to roughly 13 percent. Former Bundesbank president Jens Weidmann, now chair of Commerzbank’s supervisory board, echoed the call for discussions, while Commerzbank chief Bettina Orlopp continues to stress the bank’s independent “Momentum 2030” strategy. The bid faces opposition from the German government and must clear regulatory approval. Meanwhile, Commerzbank’s own fortunes have improved after a multi‑year restructuring: stronger earnings, a solid capital base, and a revived dividend policy have restored investor confidence, with the share price trading around €36.60, modestly above its recent level but below the 52‑week high. Analysts are watching upcoming earnings for clues on the bank’s resilience and the potential impact of a UniCredit‑Commerzbank consolidation.