Germany seeks to preserve Commerzbank identity amid UniCredit takeover
Germany is preparing demands as Italy's UniCredit moves to take over Commerzbank, after UniCredit built a near-50% stake and Commerzbank and Berlin failed to block the approach. Finance minister lars klingbeil will press uniCredit chief andrea orcel to keep Commerzbank listed in Frankfurt, protect jobs and preserve its German credit business, while the government, which holds a 12% stake, may retain rights to two non-executive board appointments. The deal would create a bank with more than €1.3 trillion in assets and aligns with european central bank aims for cross-border consolidation, though orcel foresees about 7,000 cuts.
Germany will seek a Frankfurt listing and job protections in the takeover
Context
UniCredit built a near-50% stake in Commerzbank in 2024. German officials failed to stop the takeover attempt. A meeting is planned and regulators may review the transaction next.
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