UniCredit stake in Commerzbank rises to 34.4%

Key facts

• UniCredit's direct stake in Commerzbank increased to 34.4%.
• Investors tendered shares representing 7.6% of Commerzbank's capital.
• UniCredit launched its takeover bid on May 5.
• The tender offer runs until June 16.
• UniCredit also holds derivatives on 16.4% of Commerzbank's share capital.

Italian bank UniCredit has increased its direct stake in Commerzbank to 34.4%, with investors tendering shares equivalent to 7.6% of the German bank's capital. This development follows UniCredit's takeover bid launched on May 5. The Italian bank stated its intention was to surpass the mandatory 30% takeover threshold to gain flexibility in acquiring further shares, rather than to achieve full control. UniCredit also holds derivatives on an additional 16.4% of Commerzbank's share capital, bringing its total holding to 37.6%. The tender offer remains open until June 16.