By euronews
Published on
UniCredit has received authorisation from the European Central Bank to exceed the 30 percent threshold for its equity stake in Commerzbank and to further increase its holding, with no upper limit.
The completion of the remaining regulatory steps and the fulfilment of the conditions required to finalise the offer for Commerzbank are expected towards the end of the year. At that point UniCredit will hold around 50 percent of Commerzbank’s voting rights and will be able to take control of the bank.
The decision marks a key milestone in UniCredit’s acquisition of Commerzbank, “confirming, the bank emphasised, the European Central Bank’s positive assessment of the transaction and the confidence placed in UniCredit’s solid fundamentals and its strong position within the European banking sector”.