The latest results of UniCredit's takeover bid have made it more likely that the European Central Bank (ECB) will classify the Italian banking group as having effective control over Commerzbank. According to CEO Andrea Orcel, this supervisory decision could be made even if UniCredit does not acquire a majority stake in the German financial institution, which would otherwise entail a significant capital cost for the Italian parent bank.
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The latest results of UniCredit's takeover bid have made it more likely that the European Central Bank (ECB) will classify the Italian banking group as having effective control over Commerzbank. According to CEO Andrea Orcel, this supervisory decision could be made even if UniCredit does not acquire a majority stake in the German financial institution, which would otherwise entail a significant capital cost for the Italian parent bank.