# Commerzbank has rejected UniCredit’s latest takeover bid, saying it offers insufficient upside for shareholders.

*fintech · news · 2026-04-07 · The Banker*

## Key points

- Commerzbank rejected UniCredit's €35bn takeover bid, citing insufficient premium for shareholders.
- UniCredit currently holds a 26% direct stake and 4% via swaps in Commerzbank.
- UniCredit needs regulatory approvals to exceed 30% ownership, expected by the first half of 2027.
- Commerzbank plans to announce increased financial targets and a strategy update next month.
- Analysts expect UniCredit may add a cash component to its offer after crossing the 30% threshold.

**Companies:** UniCredit, Commerzbank
**Countries:** Germany, Italy

[Read the full story on The Banker](https://www.thebanker.com/content/6072a6de-ebe3-4406-81fb-4a13f35bc44f)

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