ECB clears UniCredit's Commerzbank takeover; Orcel nears control despite Berlin opposition

The ECB has approved UniCredit's acquisition of Commerzbank, a major cross-border banking consolidation in Europe. The approval overrides political resistance from Berlin, signaling a shift in European banking supervision and cross-border M&A dynamics. The deal's completion remains subject to further regulatory and political hurdles, but the ECB's green light is a decisive step.