UniCredit Says Commerzbank Stake Increased to 37.7% After Latest Acceptances — Update

By Adria Calatayud

Italy's UniCredit said its direct stake in Germany's Commerzbank amounts to 37.7% after more shares were tendered to its takeover bid, with one week to go for the close of the offer period.

UniCredit received valid acceptances for its offer for Commerzbank of 10.9% as of Tuesday, which add to its existing direct stake of 26.8%, according to a regulatory filing published by the Italian bank. UniCredit also holds financial contracts that give it exposure to an additional 16.4% stake in Commerzbank, according to the filing.

As of June 2, UniCredit had disclosed an acceptance level for its offer of 7.6%.

The update from UniCredit comes as its offer for Commerzbank enters its last week. The Italian bank earlier this year launched a 24 billion-euro ($27.70 billion) bid to buy the stake in Commerzbank it didn't already own, its latest move in a long-running takeover effort that faced opposition from Commerzbank executives, the German government and unions.

The offer is due to close on June 16, unless it is extended, UniCredit said.

A spokesman for Commerzbank, which previously called UniCredit's approach hostile, said the bank has seen no take-up of UniCredit's offer from institutional investors and only minimal acceptances from retail shareholders.

Last week, Commerzbank asked Germany's financial regulator to look into UniCredit's disclosures.

A spokesman for the regulator, BaFin, said it carefully reviews reports from market participants.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

June 10, 2026 06:06 ET (10:06 GMT)