UniCredit has secured approval from the European Central Bank to increase its stake in Commerzbank beyond 30% without a maximum limit. This authorization allows the Italian bank to further expand its holdings in its German counterpart, paving the way for a potential takeover.
The remaining regulatory steps and necessary conditions for finalizing the offer are expected to conclude by the end of the year. Once completed, UniCredit will hold approximately 50% of the voting rights in Commerzbank, positioning it to assume full control of the bank.