Commerzbank and UniCredit: A Timeline of High-Stakes Merger Talks

Commerzbank, one of Germany's leading banks, has had a tumultuous history with mergers and acquisitions. Its latest chapter involves ongoing talks with Italy's UniCredit for a potential tie-up. Key moments from its past reveal a series of major deals, government bailouts, and strategic shifts, reflecting the bank's resilience and adaptive strategies.

Commerzbank will hold a first round of talks with UniCredit on Friday as the Italian lender presses for a possible tie-up. Commerzbank, like some other banks, has had a rocky history with big mergers and acquisitions over the years.

The German bank was founded in Hamburg and later moved to Berlin before relocating to Frankfurt in 1970, where it became one of Germany's leading banks. Commerzbank expanded to London, New York, and other European capitals in the 1970s.

In 2008, Commerzbank agreed to buy Dresdner Bank for $14.5 billion, during which it became Germany's first commercial bank to seek government capital amid the global financial crisis. The bank underwent significant transformations, including a multi-year restructuring plan in 2016 and returning to profit in 2022.

UniCredit's recent approach boosted speculation of a merger, leading to various rounds of talks. Despite these speculations, Commerzbank remains focused on its independent strategy under the leadership of new CEO Bettina Orlopp.

(With inputs from agencies.)