Commerzbank: subscriptions to the Unicredit rights issue exceed 11%
The total potential exposure is therefore 54.4% of the share capital (56.75% of the voting rights)
Acceptances of UniCredit’s public offer for Commerzbank exceed 11% of the share capital. According to the latest update, the shares tendered represent 11.22% (yesterday it was 10.95%) and 11.7% of voting rights, taking into account the German bank’s own shares. Other holdings remain unchanged: in addition to the 26.77% already held (27.93% of voting rights), there is 3.22% (3.36% of voting rights) via a physically settled derivative and 13.19% (13.76% of voting rights) linked to derivatives settled solely in cash.
The total potential exposure therefore amounts to 54.4% of the share capital (56.75% of the voting rights). Counting only the physical shares held and the acceptances of the public offer, the stake is 37.99%; adding only the physically settled derivative brings the total to 41.21%. UniCredit’s objective was to exceed 30% of Commerzbank’s share capital.
