The Italian banking giant Unicredit announced this Thursday that it has received permission from the European Central Bank (ECB) to acquire the German Commerzbank. This approval allows Unicredit to exceed the 30 percent capital ownership threshold of Commerzbank and to continue increasing its stake without an upper limit.
Unicredit explained that this decision marks a significant milestone in the takeover process and emphasizes the positive assessment of the transaction by the ECB. The bank noted that the approval reflects confidence in Unicredit’s strong foundation and robust standing within the European banking sector.
The final regulatory procedures and conditions required to complete the offer for Commerzbank are expected to be concluded by the end of the year. At that point, Unicredit aims to hold approximately 50 percent of the voting rights in Commerzbank, thereby gaining full control of the bank.
