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German regulator assessing UniCredit bid for 29.99% stake in Commerzbank
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German regulator assessing UniCredit bid for 29.99% stake in Commerzbank
Feb 26, 2025 12:42 AM

BERLIN, Feb 26 (Reuters) -

Italian lender UniCredit has reported its planned

acquisition of a 29.99% minority stake in Germany's Commerzbank

to the German Cartel Office for assessment, a

spokesperson for the regulator said on Wednesday.

The application, dated Monday, appears on a list of current

merger control proceedings on the office's website.

UniCredit announced an initial 9% stake in Commerzbank in

September, angering the German government and the German lender,

which has slammed the move as hostile and unilateral.

UniCredit has however not backed down and is also awaiting

European Central Bank approval for the stake it has built in the

German lender, for the most part using derivatives.

(Reporting by Matthias Inverardi

Writing by Rachel More

Editing by Ludwig Burger and Miranda Murray

)

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