UniCredit raises stake in Commerzbank to 28% as Orcel ups ante on pursuit

Published On Dec 18, 2024, 3:02 AM

UniCredit has increased its potential stake in Commerzbank to 28% using derivative instruments. This move raises speculation about whether UniCredit will pursue an outright acquisition of Commerzbank, amid its simultaneous bid for Banco BPM in Italy. UniCredit's current stake includes a direct holding of 9.5% and around 18.5% held through derivatives. Despite interest in Commerzbank, the German government has previously opposed UniCredit’s intentions. Meanwhile, UniCredit's stock has seen a slight increase alongside Commerzbank’s rise in share price.