Introduction

EU companies favour stronger reporting requirements than those proposed in Commission’s Omnibus legislation

A survey of EU businesses has found a majority favour retaining more stringent sustainability reporting rules than those proposed under the European Commission's Omnibus regulatory simplification package. The survey of more than 2,500 businesses in Germany, France, Italy, Poland and Spain, conducted with climate think tank E3G, found that companies see value in sustainability legislation, despite the transparency burden it imposes. By a factor of three to one, companies agree that being more environmentally sustainable is good for their competitiveness.

Best source: ESG Today

UniCredit could boost number of German nationals on board to smoothe Commerzbank acquisition

Italy's UniCredit could offer to increase the number of German nationals on its board to strengthen its hand in negotiation of an acquisition of Commerzbank. A deal to buy Commerzbank would result in around one-third of the combined group's balance sheet coming from Germany, and board membership could be readjusted to reflect the share of business coming from the country. UniCredit has built a 29% shareholding in Commerzbank through direct equity purchases and derivative transactions but continues to face opposition from the Frankfurt-based bank's board as well as the German government.

Best source: Global Data

BBVA and Banco Sabadell file complaints with markets regulator as October 10 takeover offer deadline looms

Both BBVA and Banco Sabadell have filed official complaints with Spain's financial market regulator, the Comisión Nacional del Mercado de Valores, as the October 10 deadline approaches for acceptance of the hostile takeover offer submitted by BBVA. Each group has accused the other of mistreating Sabadell shareholders who favour or are considering accepting BBVA's bid. BBVA says shareholders face difficulties at Sabadell branches, such as staff not having the correct paperwork or refusing to exchange their shares for BBVA equity at no cost as promised. Banco Sabadell says its mystery shopping inspectors have found that many BBVA branch and call centre staff are providing inadequate information, do not mention the tax implications of accepting the offer or provide incorrect information about their capital gains tax liability.

Best source: Europa Press (in Spanish)

ESG standards driving shift in commercial property values in Germany and Austria

Germany and Austria's commercial real estate sectors are undergoing a shift in which environmental and social criteria are increasingly influencing asset valuations. Offices certified as sustainable are attracting rental premiums of up to 10% and achieving higher sale valuations, while stricter EU requirements are prompting investors to prioritise properties that meet sustainability standards, with those that fail to do so facing the risk of a substantial decline in value. The redevelopment of brownfield sites in the two countries is becoming more common, although restoration projects are liable to run into regulatory and environmental hurdles.

Best source: Börse Express (in German)

Europe needs more female-led venture capital funds and stronger mentorship: European Innovation Council’s Petrioli

Chiara Petrioli, founder of underwater monitoring and communication start-up WSense and a member of the European Innovation Council board, says Europe needs more female-led venture capital funds, increased mentorship and open dialogue with investors to reverse entrenched gender disparities in the European venture sector. Petrioli says the council has increased funding for women-led start-ups to 30% in 2024 from just 8% in 2020, but more needs to be done. Female-founded companies in Europe raised just 12% of overall venture investment in 2024, despite research indicating that they often deliver stronger financial returns.

Best source: Sifted

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