UniCredit said it received authorization from the European Central Bank to increase its stake in potential takeover target Commerzbank to up to 29.9% but that it will wait until next year before deciding whether to make a move. The regulatory nod from the ECB on Friday was largely anticipated given its supportive stance on European banking consolidation and UniCredit’s solid financial position.
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UniCredit gets ECB green light to raise Commerzbank stake
“Our original timeline for deciding on whether to proceed or not with a potential combination is now likely to extend well beyond the end of 2025,” said UniCredit.
