Italy's UniCredit said Monday that its proposed hostile takeover of Commerzbank will see the merged group making a net profit of around 21 billion euros in 2030 as it outlined its plans for the German bank.
    It estimated that the merged group's revenues would amount to around 45 billion euros in 2030, while costs would be below 14.5 billion.
    Commerzbank and the German government are opposed to the takeover.
    UniCredit said Commerzbank is currently insufficiently prepared for future challenges and overly focused on short-term delivery.
    UniCredit started to acquire the German bank's stock in 2024 and had taken its stake up to close to 30% Last month it launched a bid to take its stake above the 30% threshold which, under German law, makes a full buyout offer mandatory.
    UniCredit CEO Andrea Orcel said the move was designed to end a stalemate and lead to talks at which both sides can lay their cards on the table.

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