UniCredit Lifts $250 Million Penalty Injunction, CEO Orcel Eyes Commerzbank Bid Amid $63 Billion Arbitration Award

UniCredit Bank AG successfully lifted an injunction protecting it from a $250 million penalty imposed by a Russian court, related to a claim from a Gazprom subsidiary. The decision was made by a London court on February 12, 2025. Following this, UniCredit CEO Andrea Orcel indicated that the bank has 'three to four quarters minimum' to evaluate a potential hostile takeover bid for Commerzbank. Additionally, Orcel confirmed that he is not currently engaged in discussions with Credit Agricole SA regarding a bid for Banco BPM. The bank's strategic focus includes these potential acquisitions, as well as its ongoing operations. In a related legal context, a London appeals court dismissed the Russian government's attempt to use state immunity to prevent the enforcement of a $63 billion arbitration award, emphasizing the need for the state to honor such awards.