UniCredit has built a 47.6% economic stake in Commerzbank, translating to roughly 49.65% of voting rights, giving the Italian lender effective control over Germany’s second-largest bank without technically crossing the 50% majority threshold. The acquisition campaign began in September 2024 and the voluntary public takeover offer closed on July 8, 2026. Germany’s gradual reduction of its post-2008 bailout stake created the opening for UniCredit to accumulate shares, though Berlin’s attitude has ranged from skeptical to openly hostile. Commerzbank secured Germany’s first crypto custody license for a full-service bank in November 2023 through a partnership with Crypto Finance. UniCredit CEO Andrea Orcel has signaled that Commerzbank may need to adopt elements of its strategic roadmap, with board composition likely to become a point of contention in January 2027.
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