UniCredit announced it likely gained voting control of Commerzbank after increasing its stake to nearly 50% through an open tender offer, bypassing German government resistance. This move prompted criticism from a German labor union, which warned of potential chaos resulting from the takeover. Meanwhile, Monte dei Paschi di Siena rejected a 30.6 billion euro unsolicited takeover bid from Intesa Sanpaolo, stating that the offered premium was too low.
