German government rejects Unicredit's 'aggressive' Commerzbank bid.

The Germany government has rejected UniCredit's hostile bid for Commerzbank, refusing to sell shares in the German lender.

Commerzbank AG
16 June 2026 14:57:08

Source: Sharecast

The Federal Finance Agency called UniCredit's takeover approach "aggressive", citing a lack of an appropriate premium.

The government added that Commerzbank must be "safeguarded" given its vital role as a financier to German small and medium-sized enterprises, and its central function to Frankfurt as a financial centre.

"The steering committee supports the strategy of independence of Commerzbank AG and rejects the aggressive approach of UniCredit," the FFA said.

UniCredit effectively holds around 42% of voting rights in favour of its €40n bid, well above Germany's 30% mandatory bid threshold that it set out to achieve with the offer, it said.

That comprises a direct stake of 26.8%, valid acceptances representing 12.4% and 3.2% in share-settled derivatives.

Germany's government is Commerzbank's second-largest shareholder with a stake of nearly 13%.

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.