Germany weighs KfW stake increase to block UniCredit bid
Berlin is considering using state bank KfW to increase its Commerzbank stake and block UniCredit's bid. The move aims to protect the lender's strategic role.
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Germany is considering using state-owned bank KfW to increase its 12% stake in COMMERZBANK AG to block a takeover bid. The move aims to create a blocking minority against UNICREDIT SPA, which recently launched a €37B unsolicited offer. Protecting the primary financier of German mid-sized companies is now a priority for Berlin as industrial competition from China intensifies.
