MILAN/FRANKFURT, March 16 (Reuters) – UniCredit made a low-ball unsolicited bid for Commerzbank on Monday to pressure it into merger talks and unlock an 18-month stalemate over what would be one of the biggest European cross-border banking deals since the 2008 financial crisis.
The Italian bank does not expect its offer, worth around 35 billion euros ($40 billion), to convince many shareholders. But the move ratchets up the pressure and gives UniCredit, which already owns nearly 30% of Frankfurt-based Commerzbank, the freedom to acquire more shares on the open market in 2027.
With governments across Europe determined to have a say on banking consolidation while protecting jobs and the independence of their local industry, politicians are key actors in a saga that UniCredit started when it bought a stake in Commerzbank in September 2024.
Here are some of the key players and where they stand:
THE BANK EXECUTIVES
THE GOVERNMENT FIGURES
THE REGULATORS
LABOUR REPRESENTATIVES
CUSTOMERS
INVESTORS
($1 = 0.8700 euros)
(Reporting by Valentina Za, Tom Sims and Tommy Reggiori Wilkes; Editing by Alexander Smith)
