UniCredit is reportedly preparing to take control of Commerzbank as early as January 2027. The deal would be the largest European bank takeover since the financial crisis, according to the Financial Times.
Once it secures the necessary regulatory approvals, UniCredit plans to call an extraordinary general meeting to replace Commerzbank’s supervisory board.
Its base case is to gain control by the end of February. UniCredit would replace all 10 shareholder representatives on the 20-member board.
The plans follow a shift in the German government’s stance, from resisting the deal to setting conditions for it.