Cartel Office examines Unicredit's entry into Commerzbank

The Italian major bank's planned minority stake in Commerzbank is being closely examined by the supervisory authorities. The ECB is also examining the plans.

The major Italian bank Unicredit has notified the Federal Cartel Office of its acquisition of Commerzbank for review. The Cartel Office is now investigating the effects of Unicredit's acquisition of a minority stake in Commerzbank on competition, a spokesman said on Wednesday. Unicredit has notified the acquisition of a stake of up to 29.99 percent in Commerzbank. The banking supervisory authorities at the ECB are also taking a close look at the plans.

Unicredit 's plan could also become a case for the EU Commission. But this could only happen if Unicredit tries to gain control of Commerzbank. The Federal Cartel Office is responsible for examining the minority shareholding. The authority now has up to a month to conduct an initial investigation into the plans.