Unicredit he torn the Green light of the ECB to acquire direct participation In Commerzbank up to 29.9% of the capital. But the Italian bank continues to move more fronts and, at the same time, also obtains the authorization from the ECB to carry out a capital increase at the OPS service on Banco BPM.
Growth in the capital of Commerzbank
Unicredit therefore can reach 29.9% of Commerzbank. There request had been presented to the ECB by the Institute led by Andrea Orcel a few months agoon the occasion of the purchase of the participation resulting from the sale of the state share and the subsequent purchase of other derivative tools, which led the Italian bank to hold one overall participationdirect and indirect, of 18.5% at the end of December.
The propitious moment is expected to grow again
By announcing the green light of Frankfurt, Unicredit explained that “there are still several factors that will determine any development next and the relative timing “. In particular, it is stated that “some are still pending authorization procedures Avanti the respective competent authorities, including the German federal authority of the competition, whose positive conclusion is necessary before the share of about 18.5% detained through derivative tools can be converted into shares “.
In addition, Unicredit “remains pending the opportunity to start a constructive dialogue with the new government of the Federal Republic of Germany “, once trained.
Then there is a matter of Increase in the price of the title. “As shareholders, we are pleased to find that our investment has determined a positive change in Commerzbank which, together with the recent more optimistic perspectives of the German economy, has led to a substantial Appreciation of the title“, Underlines Unicredit, adding that” only a significant period of time will be able to demonstrate the actual execution of the plan and establish whether this appreciation of the title is justified and sustainable “.
“In light of this, ours original timing to decide whether or not to proceed with a potential aggregation It will probably extend well beyond the end of 2025“.
Green traffic light to increase for Oops Banco BPM
In addition to the green light to grow again in the capital of Commerzbank, the European Central Bank has authorized Unicredit to change its statute, including the faculty for the board of directors to carry out a Share capital increase at the service of the offer relating to Banco BPM and, to classify the new actions that will be issued in the bank’s primary quality surveillance heritage (CET1).
The ECB decision – reads the bank note – is subject to the condition that the extraordinary meeting of Unicredit convened for March 27, 2025 approves these changes.
Focus remains on a strategic plan
Meanwhile, Unicredit confirms that attention “It remains concentrated on the execution of the Second phase of the ‘Unicredit Unlocked’ strategic plan, Which, in an increasingly volatile external context such as today, will allow to further distance our performance and our distributions from those in the sector “.
“Unicredit has secured the optionality of external growth actions – the institution specifies – which will be performed only if they respect our financial metrics and improve our stimulating basic plan “.
