Finance
Commerzbank CEO Calls UniCredit Offer a Very Low Price
Published by Global Banking & Finance Review®
Posted on March 17, 2026
2 min readLast updated: March 17, 2026
Quick Summary
Commerzbank CEO Bettina Orlopp criticized UniCredit’s €30.80‑per‑share offer as too low and said UniCredit has yet to present a concrete plan, calling the situation “strange.” The remarks underscore her firm resistance to the Italian bank’s unsolicited bid to exceed a 30% stake.
Commerzbank CEO says UniCredit's offer is very low, complains about being kept in the dark
Commerzbank's Response to UniCredit's Takeover Offer
CEO Bettina Orlopp Criticizes UniCredit's Proposal
FRANKFURT, March 17 (Reuters) - Commerzbank CEO Bettina Orlopp said on Tuesday that an offer by Italy's UniCredit to buy its shares was "very low" and complained that the Italian bank was keeping it in the dark on its vision for a tie-up, underscoring the German lender's long-held reluctance about any takeover deal.
Concerns About Lack of Transparency
Orlopp called the lack of a specific plan from UniCredit "strange", and said that she would need to see a draft that includes details on efficiencies, costs, speed of integration and organisation.
Details of UniCredit's Bid
UniCredit on Monday cranked up the pressure on Commerzbank to accept merger talks with a low-ball bid to raise its stake in the German lender above 30%.
Commerzbank's Expectations for the Offer
"We need something in our hands. And one would expect that someone who has moved now so far has something in the drawer which they can share with us. And that is the ask which we have," she said at a financial conference.
Valuation and Pricing Concerns
UniCredit's offer valued Commerzbank at near 35 billion euros ($40.29 billion).
"The offer itself ... is at a very low price if you compare it to our target prices," she said.
Additional Information
($1 = 0.8688 euros)
(Reporting by Tom Sims, editing by Kirsti Knolle, Kirsten Donovan)
Key Takeaways
- •UniCredit has launched an unsolicited offer at €30.80 per Commerzbank share—a modest 4% premium—but Commerzbank deems it insufficient and lacking substance. (axios.com)
- •Orlopp insists UniCredit must provide a detailed plan before any credible negotiations can begin, reiterating long‑standing reluctance to a merger. (axios.com)
- •Cross‑border consolidation remains politically sensitive: UniCredit’s move reflects strategic positioning, but Commerzbank continues to assert independence amid German government opposition. (cincodias.elpais.com)
References
Frequently Asked Questions about Commerzbank CEO calls UniCredit offer a very low price
1What did Commerzbank CEO say about UniCredit's offer?
Commerzbank CEO Bettina Orlopp said the offer by UniCredit to buy its shares was at a very low price.
2Has Commerzbank received a specific takeover plan from UniCredit?
No, Bettina Orlopp stated that the bank has yet to see a specific plan from UniCredit regarding the takeover.
3Why does Commerzbank find the situation with UniCredit 'strange'?
Orlopp called the situation 'strange' because UniCredit has not presented a concrete proposal despite pushing for merger talks.
4What is UniCredit's goal with the bid for Commerzbank?
UniCredit aims to raise its stake in Commerzbank above 30% as part of its push for a merger.
