{"id":79702,"date":"2026-08-26T23:22:58","date_gmt":"2026-08-26T23:22:58","guid":{"rendered":"https:\/\/www.europesays.com\/germany\/79702\/"},"modified":"2026-08-26T23:22:58","modified_gmt":"2026-08-26T23:22:58","slug":"unicredits-ceo-invited-by-germanys-finance-chief-for-meeting","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/germany\/79702\/","title":{"rendered":"UniCredit’s CEO invited by Germany’s finance chief for meeting"},"content":{"rendered":"

German Finance Minister Lars Klingbeil \u200bplans to meet UniCredit CEO Andrea Orcel, a report said Wednesday, signaling for the first time that Berlin is willing to engage directly with the Italian bank over its bid to take over Commerzbank.<\/p>\n

Klingbeil has invited Orcel to a meeting at the Finance Ministry in Berlin on Sept. 14, Reuters reported, citing government sources.<\/p>\n

Orcel has accepted the invitation, a \u200bperson with direct knowledge of the matter said.<\/p>\n

Klingbeil will outline Berlin’s position in talks with Orcel and emphasize Commerzbank’s role in financing the German economy and its importance to Frankfurt as a financial center, according to the sources, who declined to be named because the plans were not public yet.<\/p>\n

“This complements the talks between the two banks, which remain responsible for discussing the way forward directly,” one of the people said.<\/p>\n

The German government previously insisted that UniCredit and Commerzbank hold direct talks before it engaged with the Italian lender.<\/p>\n

Executives of both banks held several rounds of talks earlier this year, but they failed to produce an agreement, with Commerzbank \u2060long \u2060resisting UniCredit’s overtures.<\/p>\n

However, in a significant shift of tone, Commerzbank Chief Executive Bettina Orlopp said earlier this month that a tie-up with UniCredit could create value for both sides and that she was optimistic both sides could find common ground.<\/p>\n

Commerzbank has stressed that it wanted to preserve its international network and retain its focus on financing of Germany’s medium-sized, “Mittelstand” companies.<\/p>\n

UniCredit invested in Commerzbank in September 2024, starting a nearly two-year tug-of-war between Italy’s and Germany’s No. 2 banks.<\/p>\n

It has served as a test of Europe’s appetite for \u2060cross-border deals, which policymakers say the sector needs to compete with bigger U.S. rivals.<\/p>\n

Commerzbank’s resistance to a UniCredit takeover weakened after the Italian lender in July reached a stake of up to 49.65%, which is sufficient \u200bto determine shareholder resolutions.<\/p>\n

The German government, which still holds just over 12% in the Frankfurt-based bank \u200bfollowing its rescue during the global financial crisis, had long opposed a takeover<\/a>.<\/p>\n

Commerzbank’s supervisory board chair, Jens Weidmann, said on Sunday Berlin should retain its Commerzbank stake \u2060for now.<\/p>\n

Orcel’s \u200capproach had \u200cbeen described by the German government as hostile and aggressive. The \u2060UniCredit CEO, for his part, had pushed for direct \u200ctalks with the German government and employee representatives.<\/p>\n

While the offer period has ended, UniCredit still needs regulatory approvals to \u200btake possession of the tendered shares.<\/p>\n

Approval \u2060from the European Central Bank, which has long backed cross-border mergers \u2060to strengthen European Union integration, would remove the main regulatory hurdle and the ECB is \u2060leaning towards approving the \u200btakeover, Reuters said, citing an internal document.<\/p>\n

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