triggering a compulsory takeover bid by UniCredit..
UniCredit currently holds a substantial stake in Commerzbank, reportedly controlling 29.34% of its shares. Metronuclear’s founder, Roy Adams, cautioned in an interview with Handelsblatt that reducing the total number of Commerzbank shares through buybacks could inadvertently push UniCredit’s ownership above the 30% threshold. This would legally obligate UniCredit to make a takeover offer for the entire bank.
Adams expressed concern that Commerzbank could be “unintentionally walking into a strategic trap”. He strongly recommended that the bank temporarily halt its share buyback program and focus solely on dividend payouts. Metronuclear, alongside partner entities whose holdings it manages, holds approximately 500,000 Commerzbank shares and supports the institution’s independence.
While Commerzbank CEO Bettina Orlopp has stated confidence in UniCredit’s professional conduct and indicated that any potential breach of the 30% ownership mark could be proactively managed through share sales by UniCredit, Adams remains skeptical. He suggested the possibility that UniCredit might exploit the buybacks as a pretext to surpass the ownership limit, claiming subsequent compliance with German law as a mere formality. UniCredit declined to comment on the matter.
