UniCredit may seek control of Commerzbank supervisory board, Reuters Breakingviews says
Breakingviews says UniCredit, with a near-50% stake in Commerzbank, may seek to overhaul its supervisory board as soon as January, citing prior reporting including UniCredit’s 47% stake after a July tender offer.
The Italian lender may seek control of Commerzbank’s supervisory board, as it holds a near-50% stake in the German bank. A merger would still need support from minority shareholders, while the government’s 13% holding could give it scope to play a role. The Financial Times reported on September 29 that UniCredit could move to overhaul Commerzbank’s supervisory board as soon as January, citing people familiar with the matter. UniCredit holds a 47% stake in Commerzbank after a tender offer in July.