Institutional investors have declared their intention to sell a 1.29% stake in Commerzbank.

Earlier this month, the bank's Chief Executive, Bettina Orlopp, indicated that institutional investors were not favorable towards the discounted takeover offer.

Commerzbank (share price down 0.08%) announced that a small number of institutional investors have now accepted the takeover offer from UniCredit (share price down 0.09%). This development follows the bank's previous statement that it had not identified any institutional investors declaring shares for sale.

The German bank disclosed in its announcement that institutional investors have declared a 1.29% stake for sale. Additionally, various banking institutions have declared a 11.17% stake, and retail investors have declared a 0.05% stake.

The total declared stake for sale in Commerzbank now stands at 12.51%. This figure aligns with the information UniCredit disclosed last week following the conclusion of the previous offer period.

On June 10th, Commerzbank had stated that it had not identified any institutional investors declaring shares for sale.

The bank's CEO, Bettina Orlopp, also noted earlier this month that institutional investors generally did not endorse the offer due to its discounted nature.