UniCredit raises Commerzbank stake to 28% with further derivatives-March 2024-www.financetom.com

UniCredit raises Commerzbank stake to 28% with further derivatives

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UniCredit raises Commerzbank stake to 28% with further derivatives

Dec 18, 2024 12:03 AM

MILAN, Dec 18 (Reuters) - Italian bank UniCredit

said on Wednesday it had raised its potential stake in

Germany's Commerzbank to 28% by signing new derivative

contracts.

UniCredit has applied to the European Central Bank to be

allowed to get to 29.9% of Commerzbank. It said it was in touch

with supervisors while the authorisation process was ongoing.

It said it held 9.5% of Commerzbank as a direct stake and

18.5% stake through derivatives.

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