Germany, through senior government officials, now says it is prepared to sell its 12.7% stake in Commerzbank to UniCredit, provided the Italian bank agrees to a joint strategic plan. UniCredit has already secured approximately 47.6% of Commerzbank shares through a voluntary exchange offer launched in March 2026, representing 49.7% of voting rights. Berlin, which had initially rejected the offer in June 2026, shifted its stance following Chancellor Friedrich Merz’s statements in July. The European Central Bank is expected to rule on the acquisition in Q4 2026.
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