The story so far · 3 days, October 6 to 16, 2026
One Turn followed this story across 3 editions, from Moscow, Russia on October 6, 2026. Newest first.
UniCredit began building a Commerzbank stake in 2024, drawing opposition from Commerzbank management and the German government. EU officials have long promoted cross-border bank mergers.
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The European Central Bank authorised UniCredit to raise its Commerzbank stake above 30% with no upper limit. The decision allows the Italian bank to move toward controlling the German lender.
Why it matters: A takeover would be one of the largest cross-border bank consolidations in Europe's banking union.
Sources: The Eastern Herald · See it on the globe
The European Central Bank authorised UniCredit to raise its stake in Commerzbank above 30% with no upper limit. The decision lets the Italian bank move toward controlling the German lender.
Why it matters: A UniCredit takeover would be one of the largest cross-border bank consolidations in the eurozone.
Sources: The Eastern Herald · See it on the globe
President Vladimir Putin approved the restructuring of UniCredit Bank Russia and the sale of most of the business to a UAE-based private investor. The Italian lender will keep its payments operations.
Why it matters: The deal shows how Western banks are reducing Russian exposure under sanctions pressure, subject to Kremlin approval.
Sources: France 24 · See it on the globe