Italian lender UniCredit announced it now controls 42.5% of Germany’s Commerzbank after the first offer window closed. The bank added 12.51% of shares accepted during the initial period to its existing 26.77% direct holding and a 3.22% claim‑based position. The move follows months of speculation about a possible merger and signals UniCredit’s intent to deepen its foothold in the German market.

Commerzbank’s board rebuffed the approach, labeling the price as insufficient. Germany’s finance ministry, representing the second‑largest shareholder after UniCredit, publicly rejected the proposal, criticizing the bank’s “aggressive” tactics. The ministry’s objection also reflects broader concerns about cross‑border banking stability in the EU.

The renewed offer runs from June 20 to July 3, giving shareholders a window to decide. Analysts warn the timeline could pressure Commerzbank’s share price, volatile amid the negotiations. Regardless of outcome, UniCredit’s near‑majority stake positions it to influence strategic direction and may trigger consolidation in Europe’s banking sector. Investors will watch the vote closely, as any shift could reshape credit availability for German corporates.