Lars Klingbeil

Money Moves

Calling talks with UniCredit constructive

The European Central Bank gave UniCredit permission on Oct. 15 to raise its stake in Commerzbank above 30%, with no upper limit. The approval lets the Italian bank take delivery of shares tendered in its €45 billion offer. UniCredit expects to hold about 50% of voting rights and take control around the end of 2026, once the remaining regulatory steps are done.

Updated 7 days ago

Rule Changes

In office; ministry correcting a publication error in the tobacco tax law

The higher tobacco duty is on the statute book and, as published, took effect on October 21, 2026, more than two months before the government meant it to start. The Finance Ministry calls the date a drafting error and says the increase belongs on January 1, 2027. A formal correction of the Federal Law Gazette is under way but not yet complete, and customs has been told not to apply the higher rate for now.

Updated Oct 27