UniCredit has significantly increased its stake in Commerzbank to 47.6% after securing 17.6% of the bank's shares through a tender offer. This move brings UniCredit close to majority control of Commerzbank, as they now possess 49.65% of the voting rights. The development is part of UniCredit's ongoing push to take control of the German bank.

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

https://www.wsj.com/business/unicredit-nearly-secures-majority-control-in-commerzbank-d76b290c

UniCredit Nears Control of Commerzbank After Takeover Push

It secured 17.6% of the bank’s shares in a tender offer, taking its stake in Commerzbank to 47.6%

Aimee Look

and

Joshua Kirby

Listen

(1 min)

Collage of Unicredit and Commerzbank logos. UniCredit said its stake represents 49.65% of voting rights in Commerzbank. Giuseppe Cacace; John Macdougall/Agence France-Presse/Getty Images

UniCredit UCG-2.86%decrease; down pointing triangle said it upped its stake in Commerzbank CBK-2.27%decrease; down pointing triangle to nearly half, taking it close to majority control of the bank following a takeover push.

The Italian lender said Wednesday that it secured 17.6% of the bank’s shares in a tender offer, taking its stake in Commerzbank to 47.6% when combined with its existing direct stake and another smaller stake to which it has economic rights.

Videos

Most Popular

OPINION

UniCredit Nears Control of Commerzbank After Takeover Push

UniCredit Nears Control of Commerzbank After Takeover Push

It secured 17.6% of the bank’s shares in a tender offer, taking its stake in Commerzbank to 47.6%

Videos

Most Popular News

Most Popular

Further Reading

How Andrea Orcel Did an End Run Around Germany to Build a Banking Giant

Commerzbank Says Some Institutional Investors Have Accepted UniCredit’s Offer

UniCredit to Lift Commerzbank Stake to 42.5% After Initial Offer Period

Europe’s Biggest Banking Deal in Years Is Getting Closer

Germany Rejects UniCredit’s Commerzbank Bid, Calling Out ‘Aggressive’ Approach