UniCredit's Growing Presence in Commerzbank

On Wednesday, UniCredit made a significant move by increasing its stake in Commerzbank to 28%. The Italian bank, which had previously raised its stake to 21%, expressed its intention to reach 29.9%. This strategic decision aligns with UniCredit's vision to unlock substantial value within Commerzbank, as stated in their announcement: "substantial value exists within Commerzbank that needs to be crystallized."

Hedging and Flexibility

UniCredit's economic exposure is almost fully hedged, showcasing a prudent approach and providing full flexibility and optionality. This move began in September, sparking speculation about a potential takeover bid for the German lender. Currently, UniCredit holds a 9.5% direct stake in Commerzbank and an additional 18.5% through derivatives.