According to the Italian financial group, the European Central Bank (ECB) has approved UniCredit’s request to expand its stake in Commerzbank to 29,9 percent.

This was announced in a press release from the institution on Friday. So far, there has been no statement from the ECB's banking supervision.

The approval would be another step towards a potential takeover of the DAX-listed company. As of now, the ECB has not yet provided an official statement.

Further Factors Determine the Timeline

The approval underscores UniCredit’s financial strength and regulatory compliance, the bank stated. However, a number of factors will influence the next steps and the associated timeline.

Before the approximately 18,5 percent of shares held via derivatives can be converted into physical shares, several additional approvals are required, including from the German Federal Cartel Office, the bank further noted.

Moreover, UniCredit is awaiting an opportunity to initiate a constructive dialogue with the new German government once it is formed.

Stake of Over 28 Percent

In September 2024, UniCredit took advantage of the German government's partial exit from Commerzbank, which had been partially nationalized since the 2008/2009 financial crisis. At that time, the bank acquired a 4,5 percent stake in Germany’s second-largest private bank. Through additional share purchases, this stake was first increased to 9,5 percent and, via derivatives, has now reached over 28 percent.

Once the 30 percent threshold is crossed, UniCredit would be required to make a takeover offer to the remaining Commerzbank shareholders.

The ECB evaluates investors who intend to acquire a stake of ten percent or more in a bank to ensure they are suitable shareholders.