Published by Global Banking & Finance Review®
Posted on March 25, 2026
2 min readLast updated: March 25, 2026
Add as preferred source on GoogleCommerzbank’s supervisory board special committee met 11 times in 2025 to review UniCredit’s growing stake and takeover pressure; UniCredit’s bid, deemed hostile by Commerzbank’s management and opposed by the German government and unions, intensifies cross‑border consolidation tensions.
By Tom Sims
FRANKFURT, March 25 (Reuters) - A special committee of Commerzbank's supervisory board met 11 times in 2025 to discuss the situation around Italy's UniCredit, the German bank's largest shareholder that last week made a takeover offer, according to Commerzbank's annual report published Wednesday.
Commerzbank's supervisory board formed the temporary committee in 2024 when UniCredit first began amassing its large stake.
"It conducted a detailed examination of UniCredit's stake in Commerzbank and its impact on the bank and received reports on these matters from the board of managing directors as well as internal and external advisers," the annual report said of the committee's work.
Last week, UniCredit 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 management has called UniCredit's approach hostile. The German government, which is also a big Commerzbank shareholder, as well as unions have rejected UniCredit's advances.
The annual report said the special committee discussions on UniCredit included the market environment and the share prices of both banks.
(Reporting by Tom Sims; editing by Matthias Williams and Miranda Murray)
The special committee was formed in 2024 to examine UniCredit's increasing stake in Commerzbank and assess its impact on the bank.
The Commerzbank supervisory board's special committee met 11 times in 2025 to discuss matters related to UniCredit.
UniCredit made a takeover offer after amassing a large stake in Commerzbank and sought to raise its share above 30% in 2025.
Commerzbank management labeled the approach as hostile, and both the German government and unions rejected UniCredit's proposal.
The committee examined UniCredit's stake, possible impacts, the market environment, and the share prices of both banks.
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