UniCredit boosts its stake in Commerzbank, applies to own up to 29.9% of the German bank

UniCredit has increased its stake in Commerzbank to around 21% and has requested to boost it to up to 29.9%. The Italian bank acquired additional shares through financial instruments, with the belief that there is substantial value to be unlocked within Commerzbank. The German government, a major shareholder since the 2008 financial crisis, stated it has no plans to sell more shares. After the news, Commerzbank shares fell but later recovered as UniCredit’s increased position was announced. German officials confirmed their support for Commerzbank’s independence and stability. The situation is still evolving, so stay tuned for updates.