Commerzbank Takeover Inches Closer as Berlin Softens Stance

The takeover of Commerzbank by UniCredit is nearing completion after Berlin softened its stance on selling its remaining stake in the Frankfurt lender. This development narrows the gap to a mere 2.4 percentage points, with UniCredit's economic exposure standing at 47.59 percent.

The Italian banking group is now close to achieving a majority stake, and the German government has begun discussing the sale of its residual 12.7 percent holding directly to UniCredit. This would be a significant break from Berlin's earlier defensive stance against a hostile takeover.

Commerzbank's CEO Bettina Orlopp and her counterpart at UniCredit, Andrea Orcel, have been in formal talks since August, covering control structures, balance-sheet mechanics, legal frameworks, and risk management. The regulatory environment has shifted in favor of the transaction, with the European Central Bank inclined to approve it.