Swedbank vs UniCredit

Voi Secures €150M Credit Facility and Expands Fleet

Swedish micromobility company Voi Technology has signed a €150 million revolving credit facility (RCF) with Nordic banks Danske Bank, Swedbank, and DNB Sweden. The new facility will be used to redeem all outstanding bonds, refinance an existing undrawn credit line, and scale its vehicle fleet across Europe. Voi reported strong Q2 2026 results, with net revenue up 47% year-over-year to €68.8 million, and adjusted EBITDA nearly doubling to €19.7 million. The company's net leverage fell to 1.76x, and trailing twelve-month revenue surpassed €200 million. The redemption of bonds is expected to close on 19 October 2026, with bondholders repaid at 103.375% of nominal value. This move marks a significant step in Voi's financial strategy, shifting from equity to debt capital markets.

• Voi Technology secured a €150 million revolving credit facility (RCF) from Danske Bank, Swedbank, and DNB Sweden.
• The RCF will be used to redeem all outstanding bonds, refinance an existing undrawn credit line, and expand the vehicle fleet.
• Voi reported Q2 2026 net revenue of €68.8 million, up 47% year-over-year, and adjusted EBITDA of €19.7 million.

Swedbank publishes new press releases including PMI services and household savings survey

New press releases added: 'Sex av tio skulle spara ett tillskott på 500 kronor' (2026-09-11), 'Mer pengar i plånboken – men små marginaler för unga och ensamstående' (2026-09-09), and 'PMI–tjänster steg till 55,8 i augusti: återhämtningen breddas' (2026-09-03).

Swedbank publishes new press releases: PMI services, housing index, and PMI manufacturing

New press releases added: PMI services rose to 55.8 in August, Swedbank's housing index shows home purchases slightly easier, and PMI rose to 56.1 in August with growth and higher cost pressure.

BaFin Fines Nomura Over Voting Rights Notification

Germany's financial regulator BaFin has fined Japanese bank Nomura €320,000 for failing to timely disclose voting rights notifications during UniCredit's takeover offer for Commerzbank. The violations occurred in May and June 2026. Nomura had secured voting rights in Commerzbank through equity swaps on behalf of UniCredit, contributing to UniCredit's total voting stake of 47.6%. BaFin requires notifications within four trading days when certain shareholding thresholds are crossed. Nomura reported an 8.1% stake on May 7, predominantly through options. The fine is relatively small compared to Nomura's record profit of about €2 billion for the fiscal year ending March 2026. The regulatory approval process for UniCredit's takeover is expected to complete by year-end.

• BaFin fined Nomura €320,000 for late voting rights notifications.
• Violations occurred in May and June 2026 during UniCredit's takeover offer.
• Nomura secured Commerzbank voting rights via equity swaps, contributing to UniCredit's 47.6% stake.

ECB Approves UniCredit's Commerzbank Stake Increase

The European Central Bank (ECB) has approved UniCredit's plan to increase its stake in Commerzbank beyond the 30% threshold, and has also cleared further purchases without a cap. UniCredit, led by CEO Andrea Orcel, described the decision as a major milestone towards a full takeover. The bank expects to obtain remaining approvals, including from antitrust authorities, by the end of the year, after which it will hold around 50% of voting rights and gain control. The German financial regulator BaFin and the federal government, which holds 13.3%, have expressed concerns, but the ECB supports cross-border bank mergers. UniCredit had previously secured 49% of shares through derivative constructions.

• ECB approves UniCredit's stake increase in Commerzbank above 30% and further purchases without limit.
• UniCredit expects remaining approvals, including antitrust, by end of 2025.
• UniCredit will hold around 50% of voting rights and gain control after approvals.

UniCredit seeks to oust Commerzbank leadership in takeover bid

UniCredit's CEO Andrea Orcel is reportedly seeking to replace the top management of Commerzbank amid a hostile takeover. Insider sources told Reuters that Orcel wants CEO Bettina Orlopp and supervisory board chairman Jens Weidmann to step down. UniCredit also rejects the German government's demand for two supervisory board seats. The federal government, which still holds 13.3% of Commerzbank, wants to retain representation and prevent job cuts. Finance Minister Lars Klingbeil met with Orcel, emphasizing Commerzbank should remain listed and continue its SME business. With UniCredit controlling about 50% of shares, the takeover appears unstoppable.

• UniCredit seeks to oust Commerzbank CEO Bettina Orlopp and supervisory board chairman Jens Weidmann.
• UniCredit controls approximately 50% of Commerzbank shares.
• The German government holds 13.3% of Commerzbank and demands two supervisory board seats.