Home/global/European takeover battle hots up with UniCredit’s ‘unfriendly attack’ on Commerzbank

European takeover battle hots up with UniCredit’s ‘unfriendly attack’ on Commerzbank

globalMarch 16, 20261 min readAttributed summary
European takeover battle hots up with UniCredit’s ‘unfriendly attack’ on Commerzbank
Milan-based bank plans to up its near-30% stake in German lender to trigger formal talks despite strong opposition from Berlin
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Milan-based bank plans to up its near-30% stake in German lender to trigger formal talks despite strong opposition from Berlin

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Two European banking powerhouses have become embroiled in a €35bn (£30bn) takeover battle after Italy’s UniCredit stepped up its long-running pursuit of German lender Commerzbank, despite strong opposition from the German government.

UniCredit first took a stake of 9% in Commerzbank in September 2024 and has since built up its holding to just under 30%. It said on Monday it was pushing to increase that holding further and push the rival lender into formal merger talks.

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Source: Guardian - World News

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