UniCredit to skip Commerzbank shareholder meeting
The Italian lender will remain passive at Wednesday's annual meeting despite holding a nearly 30% stake in the German bank. This move aims to avoid a regulatory classification of control that would require costly capital consolidation under German law.
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UNICREDIT SPA will skip the COMMERZBANK AG annual shareholder meeting the following day to avoid triggering a costly capital consolidation. The Italian lender holds a 26.7% direct stake and derivatives that could push its voting share to 29.9%. Avoiding the meeting prevents regulatory classification of control, which would force UniCredit to set aside more capital against its minority holding.
