The European Central Bank approves UniCredit to increase its stake in Commerzbank to over 30%

UniCredit's plan to increase its stake in Commerzbank has received official approval from the European Central Bank, clearing the way for CEO Andrea Orcel to gain control of the German bank. In an announcement released on Thursday, UniCredit stated that, following the ECB's authorization, the bank can raise its shareholding in Commerzbank to over 30%, with the potential to eventually acquire 100% of the bank in the future. This marks another significant milestone in Andrea Orcel's strategic expansion process. Although the German government and Commerzbank management had publicly opposed the move, he has been openly advancing the acquisition plan since September 2024. Should the takeover of this institution—valued at approximately €42 billion (about $47 billion)—be completed, it would become one of the largest banking mergers globally in the past two decades.