Jens Weidmann, chairman of Commerzbank, is calling for a rethink of Germany’s takeover regulations as UniCredit approaches a near-majority stake. The Italian bank has accumulated approximately 48% of Commerzbank shares, including 17.6% through a voluntary exchange offer launched in March 2026. UniCredit built this position despite opposition from Commerzbank’s board and the German government, which holds nearly 13% of the capital dating back to the financial crisis bailout. The 30% threshold under German takeover law is under scrutiny, as UniCredit crossed this line without triggering a mandatory offer due to the voluntary structure of its bid. Regulatory clearances are expected as early as Q4 2026.
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