UniCredit continues to increase its direct stake in Commerzbank, now holding approximately 26 percent, the Italian banking group announced Monday.
The conversion of a synthetic equity position into physical shares is ongoing, with the remaining portion expected to be converted shortly, bringing UniCredit’s total shareholding to around 29 percent. This move solidifies UniCredit’s position as the largest single shareholder in Commerzbank, the bank stated. Representation on the Commerzbank’s management board remains not planned, according to the announcement.
With this further increase in its stake, a potential takeover bid for Commerzbank from the Italian banking giant becomes increasingly likely.