UniCredit: BaFin gives the go-ahead to exceed a 30 per cent stake in Commerz; the ECB is expected to make a decision within 60 days

UniCredit’s application to exceed the 30 per cent threshold and acquire a controlling stake in Commerzbank can now proceed; it is now merely awaiting final approval from the ECB. The German regulator BaFin has informed the Italian bank of this, thereby giving its go-ahead. Bloomberg reports this, noting that the countdown has now begun for the ECB’s decision, which must be issued within 60 working days. Specifically, at the end of July, BaFin confirmed that UniCredit’s application was complete and subsequently referred the matter to the ECB. The central bank’s decision is therefore expected by October, although the ECB may request further information and extend the review period by up to a further 20 working days.

Red-Ppa-