UniCredit has secured a controlling interest in Commerzbank, raising its stake to 44.1% as its takeover bid closed.
The Italian lender announced that shareholders accepted the offer for 17.6% of the German bank's shares, adding to its existing 26.5% holding.
This development marks a decisive shift in the months-long contest for control of Germany’s largest bank.
The acceptance rate significantly narrows the gap between UniCredit and Commerzbank’s management, which has actively resisted the bid.
Commerzbank’s leadership had previously argued that major investors remained loyal to the independent strategy, but the latest figures suggest a broader base of shareholders is willing to sell into the offer.
The move intensifies pressure on the German board to reconsider its stance as the Italian lender approaches a majority position.