UniCredit S.p.A. (MIL:UCG) is consolidating control of Commerzbank with a 48% stake and renewed talks on a pan‑European tie-up while securing a sanctions exemption to settle its 2015 Ukrsotsbank put, and launching a multi‑year Accenture/IBM modernization across 13 markets.
Previous Week Recap
- UniCredit S.p.A. Holds 48% Stake: UniCredit (UCG) holds a 48% stake in Commerzbank since Sept 2024; talks to resume on a potential pan‑European deal as UniCredit nears control — discussions underway on next steps.
- Sanctions Exemption For UniCredit: European Council approved a narrow sanctions exemption allowing release of frozen funds and transfer of shares/payments to settle UniCredit (UCG)’s 2015 put option tied to the Ukrsotsbank sale.
- UniCredit Strikes Multi-Year Tech Deal: UniCredit (UCG) struck a multi-year deal with Accenture and IBM to modernize core banking across 13 European markets: Accenture to buy the JV majority, IBM to provide tech, cloud and AI tools.
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