UniCredit targets Commerzbank acquisition approval from EU

UniCredit expects to submit its formal notification for the acquisition of Germany’s Commerzbank to the European Commission this September. According to the bank's 240-page takeover prospectus, the authorization process is currently underway and could take several months.

The bank anticipates receiving initial approval from competition authorities between October and November of this year. However, if the European Commission launches an in-depth investigation, known as Phase II, a final decision could be delayed until as late as May 2027.

If approved, the merger would create a pan-European banking giant with a combined market capitalization of approximately €168 billion. This would represent the largest cross-border banking transaction in Europe since the 2007 acquisition of ABN Amro.