UniCredit launched its 35-billion-euro hostile takeover bid for Commerzbank on Tuesday with the publication of the public purchase offer.
    The offer of 0.485 of a UniCredit share per Commerzbank share runs until June 16.
    After the offer was launched the German bank's shares gained 2.5% on the stock exchange, rising to 34.84 euros, above the level of the bid, which values each Commerzbank share at about 32 euros.
    UniCredit's share price was up 3.5% at 66.34 euros.
    UniCredit started to acquire the German bank's stock in 2024 and had taken its stake up to close to 30%.
    Under German law, a full buyout offer is mandatory before an investor can cross the 30% threshold.

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