UniCredit SpA

UNCFF: PINX (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$87.56	Pfhbt	Dqktfysh

Wedding Bells for UniCredit and Commerzbank?

Niklas Kammer , Johann Scholtz

Sep 11, 2024

No-moat UniCredit announced that it acquired 9% of no-moat Commerzbank. We estimate that UniCredit paid around EUR 1.5 billion for the stake, about 2.5% of its own market value. It seems UniCredit intends to increase its stake in the future.

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