UniCredit launches hostile bid for Commerzbank

Hostile public takeover offer of 5 May 2026. The management board, supervisory board, the Federal Government and ver.di rejected it; by the deadline on 3 July 2026 only approx. 17.6% of the shares had been tendered – offer failed. ver.di saw up to 10,000 jobs at risk. Update (6 Aug 2026): UniCredit has meanwhile built its Commerzbank stake to around 48%. On 6 August 2026, around Commerzbank's quarterly results, CEO Bettina Orlopp confirmed that new talks on the bank's future ownership structure had started ('We have started talks on this, which is in the genuine interest of both UniCredit and Commerzbank'). Earlier rounds of talks had each ended without agreement. Source: RTÉ, 6 August 2026. Update (16.10.2026): The ECB banking supervisor has authorised UniCredit to exceed the 30% threshold in Commerzbank and to raise its stake further without a ceiling. According to UniCredit, the remaining regulatory procedures should be completed around the end of the year; it would then hold about 50% of the voting rights and could take control (finews.ch, 16 Oct 2026).