ECB clears UniCredit to pass 30% in Commerzbank, opening the way to control

Victoria Shinder17 October 2026, 09:072 min read

The European Central Bank has authorised UniCredit to exceed the 30% shareholding threshold in Commerzbank and to raise its stake further with no upper limit, Euronews Business reported, citing a UniCredit statement on Thursday 16 October 2026 (the article is dated 15 October, updated 16 October). UniCredit says it expects to complete the remaining regulatory steps and conditions around the end of the year, at which point it anticipates holding about 50% of Commerzbank's voting rights and being able to take control of the German bank.

What the ECB cleared. The authorisation is the supervisory green light to cross the 30% threshold — a point at which EU takeover and banking rules require approval — not the completion of the deal itself. UniCredit called it "a key milestone" and said the decision reflects "the European Central Bank's positive assessment of the transaction and the confidence placed in UniCredit's solid fundamentals and its strong position within the European banking sector". The authoritative record is the ECB's own supervisory decision and UniCredit's statement; this piece follows Euronews's account of them.

The context, per Euronews. UniCredit first bought into Commerzbank in September 2024 and has since secured access to nearly 50% of the voting rights despite resistance from Commerzbank and from Berlin. Commerzbank — valued in the report at €35 billion ($39 billion) — cut thousands of jobs and raised its financial targets to argue for staying independent, but chief executive Bettina Orlopp called in late July for "constructive" talks. The German state still owns about 12% of the bank, and Finance Minister Lars Klingbeil met UniCredit CEO Andrea Orcel last month seeking guarantees, saying it was of "paramount importance" that Commerzbank keep financing the German economy.

What the clearance does not settle is the political and governance questions around a cross-border takeover of a systemically important German lender; those run through the remaining conditions UniCredit still has to meet before it can consolidate control. As a feed item this is the pointer — the ECB decision and the companies' statements are where the detail and any conditions live.

Source: Euronews Business, "UniCredit cleared by ECB to take control of Commerzbank" — https://www.euronews.com/2026/10/15/unicredit-cleared-by-ecb-to-take-control-of-commerzbank