UniCredit Raises Equity Stake in Commerzbank to 26%, Plans 29% Amid German Government Opposition

Italy's UniCredit has increased its equity stake in German bank Commerzbank to approximately 26%, solidifying its position as the largest investor in the German lender. UniCredit plans to continue converting its Commerzbank holdings into shares with the goal of raising its stake to around 29%. This move is part of UniCredit's broader pan-European expansion strategy. However, the German government has expressed firm opposition to UniCredit's bid, describing it as "uncoordinated and unfriendly," and has stated that it does not intend to sell its shares in Commerzbank. The development highlights ongoing tensions in the banking sector as UniCredit seeks greater influence over Commerzbank amid acquisition talks.