UniCredit has raised its stake in Germany's Commerzbank to 28 percent through new derivative contracts, the Italian bank announced on Wednesday, December 18. This move comes as UniCredit faces challenges in its bid for Italian rival Banco BPM.
In September, UniCredit became the largest private shareholder in Commerzbank, a development that sparked criticism from the German government.
The bank had initially sought approval from the European Central Bank (ECB) to increase its stake to 29.9 percent, just below the threshold requiring a mandatory takeover offer. Following this, UniCredit boosted its stake through derivatives to nearly 21 percent.
The ECB's approval process is still ongoing, and UniCredit has confirmed it is in contact with regulators. The review process can take up to 90 working days from the submission of documents.
UniCredit now owns 9.5 percent of Commerzbank directly and an additional 18.5 percent through derivatives. Commerzbank, in response to UniCredit's announcement, stated it would refrain from commenting further, focusing instead on presenting its strategy to investors on February 13.
Commerzbank's shares rose 3.9 percent by 0841 GMT on the news.
This development comes as UniCredit faces mounting pressure to improve its bid for Banco BPM, which currently stands at a 14 percent discount to its market price. CEO Andrea Orcel emphasized the importance of UniCredit's participation in the accelerating consolidation of Italy's banking sector.
However, Orcel also confirmed that UniCredit would delay further expansion in Germany until a new government is formed, due to a regulation that would force the bank to pay cash if it made a full bid for Commerzbank within six months of surpassing a 5 percent ownership threshold.
A new artificial intelligence data centre in Armenia could be used for Western intelligence purposes, including against Russia, according to Russia...
Syria is carefully considering providing...
Scientists, astronauts and space industry leaders gathered in Antalya, Türkiye, on Thursday for the fourth day of the 77th International ...
Russia struck Ukraine overnight in one of the biggest attacks of the conflict, killing at least 19 people, Kyiv's Foreign Ministry said on Wednesday. Around 70 missiles were fired at Ukraine during the attack, as well as drones, the Ministry said.
The Saudi-led coalition says it has carried out a series of military operations against Houthi targets in Yemen after attacks on two Saudi airports left three people dead and dozens injured.
Azerbaijan and the five Central Asian states have signed two key documents at the 8th Consultative Meeting of Heads of State in Turkmenbashi, formalising a broader framework for regional cooperation in transport, trade, energy, digitalisation and security.
An investigation into August Hanning, the former head of Germany’s Federal Intelligence Service (BND), has no connection to Azerbaijan, informed sources have told AnewZ.
It started with classrooms. Too many students, not enough teachers, deteriorating buildings and growing anxiety over what comes after high school. But within weeks, a movement that began outside French lycées had spread across the country.
Uzbekistan and Russia have a portfolio of more than 200 joint projects worth almost $6 billion, as the two countries continue to expand regional and business ties. The projects were discussed during the third meeting of the Council of Regions of Russia and Uzbekistan, held in Fergana, Uzbekistan.
In the marshlands of Malluba in southern Azerbaijan, Kamil Mammadov follows a routine that has been passed down through generations. His family has worked with medicinal leeches for centuries, harvesting and breeding a species known as Hirudo orientalis, or the Caucasian medicinal leech.
Baku is hosting the second Azerbaijan International Investment Forum (AIIF 2026) and it’s attracting more interest this year, Azerbaijan’s Deputy Prime Minister told AnewZ. “The agenda is very impressive. More guests, more interest,” he said.
Warren Buffett has stepped down as chairman of Berkshire Hathaway, marking the end of one of the most influential leadership tenures in corporate history and completing a succession process that has been years in the making.
Nigerian billionaire Aliko Dangote launched Africa's biggest-ever share sale on Monday, opening the oil refinery that has remade the country's fuel market to public ownership for the first time.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment