UniCredit set to exceed 30 percent Commerzbank stake
Italy's UniCredit has reportedly secured commitments to raise its Commerzbank stake above 30 percent. Reuters was not immediately able to verify the report.
UNICREDIT SPA has secured commitments to increase its stake in COMMERZBANK AG well above 30%. The move by the lender from Italy would trigger a mandatory takeover offer under law in Germany. Investors are monitoring whether this leads to a full-scale merger of two of Europe's largest banking institutions.
### UniCredit Crosses the Takeover Threshold UniCredit obtained the necessary commitments to exceed the 30% ownership mark on June 2, Bloomberg News reported, citing people familiar with the matter. Reuters could not immediately verify the report. This level is a critical regulatory milestone that requires a formal bid for the remaining shares of the German bank.
