Commerzbank formally rejected UniCredit’s takeover bid valued at €39 billion, claiming it undervalues the bank by 5.6% and carries significant risks. The board recommended shareholders reject the stock exchange proposal, citing vague integration plans and unrealistic synergy estimates. Commerzbank is promoting its independent ‘Momentum 2030’ strategy instead.
Ryanair announced record net profits of €2.26 billion for fiscal year 2026 (ending March 31), a 40% increase driven by reduced expenses and higher revenues from passenger growth and fares. The airline projects stable ticket prices during peak summer months and increasing confidence in jet fuel supply despite Middle East tensions. The company’s conservative fuel hedging strategy (80% of FY2027 fuel hedged at $67/barrel) protects margins as spot prices exceed $150/barrel. CEO Michael O’Leary’s contract extension negotiations through 2032 are nearing completion.
Klarna, the Swedish fintech company, announced significant growth metrics including a 49% increase in connected merchants to over 1 million and a 21% growth in users to 119 million. The company processed $33.7 billion in payment volume (up 33%) and achieved its first profitable quarter with $1 billion in revenue and $1 million net profit. Klarna is expanding US market presence through partnerships with Stripe, Nexi, JPMorgan Payments, and Worldpay.
Helsing, a Munich-based defense startup founded in 2021, is reportedly raising 1.2 billion US dollars, which would value the company at 18 billion dollars. This would make it the most valuable German startup, surpassing previous record holders Trade Republic and Celonis. The company develops AI-powered autonomous combat drones, with the HX-2 model already in operation. The funding round is led by US investors Dragoneer and Lightspeed Venture Partners.
A new analysis by The Association of Listed Danish Companies (FBV) reveals 54 Danish companies with IPO potential by 2030, including scaled startups like Pleo, Lunar, Veo, and Too Good To Go. The report suggests Denmark’s IPO pipeline is stronger than commonly assumed, with these 54 candidates representing nearly a third of the current Danish stock market. The analysis recommends three key steps: encouraging pension fund investment in Danish equities, improving retail investor incentives, and simplifying the listing process.
Fin (formerly Intercom) announced Fin Operator, an AI agent that manages the customer-facing Fin AI agent. The product targets support operations teams, automating data analysis, knowledge management, and agent debugging. It runs on Anthropic’s Claude models and includes a human approval system for all proposed changes. The company recently rebranded from Intercom to Fin, signaling that AI agents are now the core business. Fin generates 100 million ARR and is growing at 3.5x, accounting for roughly a quarter of total company revenue.
Portuguese holding company Semapa reported Q1 2026 results showing 513.3 million euros in profits, primarily from the sale of cement company Secil for 1.4 billion euros. Operating performance declined with consolidated revenue at 478.4 million euros (down 14.1%) and EBITDA contracting 40.7% to 70.9 million euros. The company invested 102.9 million euros, including reinforced investment in Gropyus and new investments in CarbonRe and Sybilion through its venture capital arm Semapa Next.
Grupo Brisa, Portugal’s highway concessions operator, reported 2025 revenues of 1,231.6 million euros, a 13% increase from 2024. The group completed a merger with Rubicone BidCo effective January 1, 2025, strengthening its financial capacity. Net income was 173.4 million euros (down 44% from 2024 due to accounting effects of the merger). EBITDA increased 5.3% to 860.9 million euros. The group invested 109 million euros in infrastructure maintenance and improvements, a 25.9% increase from the previous year.
Destinus, a Dutch defence tech startup founded in 2021, is in talks to raise approximately €200m in a pre-IPO funding round, seeking a valuation above €5bn based on forecast annual revenues of €500m. The company, which develops drones and cruise missiles, recently acquired Swiss autonomous pilot startup Daedalean for $225m to strengthen its AI and autonomous flight capabilities.
Gruppo Cap, the integrated water utility serving the Milan metropolitan area, approved a major industrial plan update through 2037 with total investments reaching over 1 billion euros by 2033. The plan focuses on infrastructure modernization, climate resilience, emerging micropollutant management, digitalization and cybersecurity. The company reported 2025 revenues of 500.5 million euros with 36.4 million euros net profit.