Trending Now - Unicredit Bids €35 Billion to Increase Commerzbank Stake to 30%

WHO:

UniCredit SpA, Commerzbank AG, Andrea Orcel (CEO of UniCredit)

WHAT:

UniCredit made a €35 billion ($40 billion) bid for Commerzbank.

The bid aims to increase UniCredit's shareholding in Commerzbank beyond 30%.

UniCredit currently holds a 28% stake in Commerzbank, comprising about 26.04% in shares and the remainder in total return swaps.

The offer exchange ratio is expected to be 0.485 shares of UniCredit per share of Commerzbank.

The bid implies a price of €30.80 per Commerzbank share, representing a 4% premium.

UniCredit shares are down 10.5% year-to-date, while Commerzbank's share price has fallen more than 18% since the start of 2026.

Orcel stated, "A full takeover scenario is remote."

WHERE:

Milan (headquarters of UniCredit)

WHEN:

The bid was reported on March 16th, 2026.

WHY:

The bid is designed to overcome the 30% regulatory threshold without reaching full control, which would require a mandatory offer for the remaining shares.

HOW:

The bid involves an exchange ratio of shares and is structured to increase the stake while avoiding the need for a full takeover at this time.

(UPDATED March 16, 2026 11:15 UTC)

In a significant move today, UniCredit has made a €35 billion bid for Commerzbank, aiming to increase its shareholding beyond 30%. Currently holding a 28% stake, UniCredit's offer implies a price of €30.80 per Commerzbank share, which represents a 4% premium, and is structured to avoid the need for a full takeover. CEO Andrea Orcel noted that while the bid is designed to navigate regulatory thresholds, a full takeover scenario is considered remote.