Finance
UniCredit Makes Move on Commerzbank as Germany Starts Exit
- Italian bank builds 9% stake, seeks talks with management
- UniCredit has previously considered buying Commerzbank
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UniCredit SpA built a 9% stake in Commerzbank AG and plans to enter into talks with the lender, raising the possibility of a takeover that could reshape Europe’s banking landscape.
The Italian bank acquired 4.5% from the German government, with the rest bought on the market, it said Wednesday, confirming a Bloomberg report. That makes it the second-largest shareholder behind Germany, which has announced plans to exit its holding.