Banks: Unicredit CEO accelerates restructuring plans and wants to merge Commerzbank with HVB sooner
Italy's largest bank wants to take control of Commerzbank at the beginning of 2027 and accelerate the planned merger with its German subsidiary.
Unicredit plans to take control of Commerzbank at the beginning of 2027 and merge it with its German subsidiary Hypovereinsbank (HVB) sooner than previously expected. The Italian bank aims to achieve further significant synergies through this move. Initially, Unicredit's CEO Andrea Orcel had considered a merger of Commerzbank and HVB for after 2028. Unicredit has secured control of almost half of Commerzbank's shares and expects to receive necessary approvals by the end of November to increase its stake to nearly 50%.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
