Unicredit aims to control Commerzbank by January according to the Financial Times

MILAN – Unicredit CEO Andrea Orcel is apparently speeding up the Commerzabnk dossier. According to what was reported by the Financial Times, the Italian bank is preparing to take control of the German credit institution and replace its supervisory board as early as January.

Unicredit, according to the financial newspaper, intends to call an extraordinary meeting as soon as it has obtained the remaining authorizations necessary to take control of the second German bank. UniCredit's basic scenario involves securing control of Commerzbank by the end of February and replacing all 10 members representing shareholders on the supervisory board, made up of 20 people, thus guaranteeing the Piazza Gae Aulenti group an effective majority.

Orlopp's stakes on the integration between Unicredit and Commerzbank

by giovanni pons milan 25 September 2026

The best-case scenario would see consolidated control as early as January. Once he gains control, Andrea Orcel expects, the FT continues, a major restructuring of Commerzbank, which will include cutting parts of its international network, liquidating around 20 billion euros of loans to businesses outside its core markets in Germany and Poland - non-essential for its Mittelstand clients - and reducing its cost base.

The plans follow Berlin's recent change of stance regarding the potential takeover. The German government, which holds a nearly 13% stake in Commerzbank, recently moved from outright resistance to setting conditions for the deal, according to the Ft.