04:18 PM EDT, 10/24/2024 (MT Newswires) -- UniCredit is working with Jefferies Financial Group ( JEF ) to safeguard its existing investment in Commerzbank and secure the flexibility to make future decisions regarding its holdings, Bloomberg reported Thursday, citing people with knowledge of the matter.

This strategy reportedly gives UniCredit the option to either raise or lower its stake in Commerzbank in the future, though no decision has been made yet.

Jefferies Financial's ( JEF ) interest in Commerzbank, including activities on behalf of UniCredit and other clients, could soon exceed the 5% ownership threshold, requiring regulatory disclosure, the sources reportedly said.

UniCredit, Jefferies Financial ( JEF ) and Commerzbank did not immediately respond to requests for comment by MT Newswires.

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