UniCredit is launching a takeover offer of 35 billion euros for Commerzbank, but emphasizes that it does not seek control, but rather to initiate discussions for a merger.

The financial-banking group UniCredit has launched a takeover offer of 35 billion euros for Commerzbank, emphasizing that it does not intend to gain control, but to initiate discussions for a merger. Andrea Orcel, the CEO of UniCredit, stated that the terms of the offer could be revised following a constructive dialogue, mentioning that the main goal is to overcome the current deadlock.

Bettina Orlopp, the CEO of Commerzbank, criticized the lack of a detailed proposal from UniCredit, which left the German bank uncertain about the vision for the merger. UniCredit hopes that the offer will lead to an increase in its stake in Commerzbank, which is currently below 30%. Regardless of the outcome, UniCredit is committed to being more active as the main investor in Commerzbank, communicating more frequently about its intentions.