Germany rejected UniCredit's offer to acquire Commerzbank, citing the low price and concerns about the aggressive approach of the Italian bank.

The German government officially announced the rejection of UniCredit SpA's offer to acquire the banking group Commerzbank AG, citing the low price of the offer and concerns regarding the "aggressive approach" of the Italian bank. Berlin holds a 12% stake in Commerzbank and has consistently expressed objections to UniCredit's efforts to take over this important lender.

The German financial agency emphasized that accepting the offer was not financially viable, as it did not include an adequate premium relative to the current price of Commerzbank shares. Commerzbank plays a crucial role in financing medium-sized companies in Germany and has a significant presence in Frankfurt, the country's financial center, which must be ensured going forward. UniCredit submitted the takeover offer in May, acquiring 11.22% of Commerzbank shares, which would have increased its stake to over 37%.