UniCredit seeks to take Commerzbank stake over 30%, irking Berlin
UniCredit Bank
Italian bank UniCredit said Monday that it has launched a bid to take its stake in German lender Commerzbank above the 30% threshold which, under German law, makes a full buyout offer mandatory, sparking an angry reaction from Berlin. UniCredit, Italy's second biggest bank after Intesa Sanpaolo, said it did not expect to gain full control of Commerzbank and CEO Andrea Orcel said the aim of the move was to open up "constructive dialogue". The German government and Commerzbank have
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