Commerzbank Reverses Course, Agrees to Resume Merger Talks with UniCredit

Commerzbank agreed in late July 2026 to resume merger talks with UniCredit after a two-year standoff, Reuters reported. The reversal is stark: CEO Bettina Orlopp urged shareholders in a June 26 letter to reject UniCredit's offer. By late July, UniCredit held nearly 48% of Commerzbank, up from 26% in March — a stake level that makes resistance costly.