Unicredit is planning takeover of Commerzbank: government raises the alarm!

Unicredit is planning takeover of Commerzbank: government raises the alarm!

The major Italian bank Unicredit plans to increase its share in Commerzbank to up to 29.9 percent and has already initiated steps to approved the European Central Bank (ECB). This message causes excitement and has prompted the German federal government to ask Unicredit to refrain from the attempt to take on. The deputy government spokesman Wolfgang Büchner criticized the "unfriendly methods" of the Unicredit and emphasized that the institute had previously publicly committed not to become active before the Bundestag elections. However, Unicredit said that the participation has so far been a pure investment and could be resolved at any time, as was already shown in a report by Vienna.at.

The German government is concerned, especially since UniCredit strives for the status as the largest shareholder of Commerzbank, which would cause a takeover compulsion in a share. Evil tongues leave a positive impression on the stock exchange: the shares of Commerzbank temporarily increased by 3.5 percent. Unicredit boss Andrea Orcel indicates that he is seriously striving for a merger. Originally Fanf Unicredit in September to buy shares on financial derivatives, and thus secured access to around 21 percent of Commerzbank, which could tighten the dynamics of the market. According to Djournal's reporting, the entire situation could be perceived as potentially destabilized, since Unicredit has been trying to strategically expand its own activities in the banking sector for years.

The reactions to the takeover plans

Commerzbank has not yet commented on the plans, but takes note of developments. The bank emphasizes that it continues to adhere to its own strategy and research, whose further development she will present soon. In the government, but also within Commerzbank, there are resistance to orcel projects. In a reported incident at the beginning of the year, UniCredit tried to take on domestic competitor Banco BPM, which, however, failed. At the time, Orcel had explained that he would never integrate two banks at the same time, but did not give up his plans for Commerzbank. The ongoing discussion about Commerzbank once again shows how intensive the competition in the banking sector is and which ambitions are followed by UniCredit, as is also evident in the reports of Djournal.