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UniCredit Nears ECB Approval for its Commerzbank Bid
August 13, 2026
– Ritish G
The ECB is leaning toward approving UniCredit SpA’s takeover bid for Germany’s Commerzbank AG, according to the sources. UniCredit is currently awaiting regulatory approvals to acquire about 18% of Commerzbank shares that were tendered during the takeover offer earlier this year. This would boost UniCredit’s holding to just under 50% and give it a likely voting majority at investor meetings. German supervisor BaFin cleared UniCredit’s application in late July, initiating a 60-day ECB review period. UniCredit has said it expects the ECB to soon view the bank’s influence over Commerzbank as having reached effective control. This would lead to counting of the German firm’s assets toward UniCredit’s and is anticipated to lower UniCredit’s regulatory capital. Both banks held their first formal talks this month over how to manage the expected change of control.
UniCredit’s bonds traded stable, with its EUR 5.625% Perp at 101.29, yielding 5.38%.
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