Commerzbank: UniCredit increases stake to 21%.

(CercleFinance.com) - On Monday evening, UniCredit announced that it had increased its stake in Commerzbank from 9% to around 21%, following the acquisition of financial instruments.


The Italian banking group also stated that it had applied for the go-ahead from the stock market regulator to cross the 10% threshold and reach 29.9%.

UniCredit thus becomes Commerzbank's largest shareholder, ahead of the German state.

According to analysts, this surprise announcement confirms the speculative appeal of the Commerzbank dossier, even though many continue to point to the uncertainty surrounding the timing of a possible transaction.

UniCredit itself remains vague about its intentions, explaining that it sees potential value creation at Commerzbank, whether it remains independent or moves closer to UniCredit.

As highlighted in a recent report by the European Commission, UniCredit believes that a strong banking sector is the key to the continent's economic success, it says.

Following these announcements, Commerzbank shares advanced by around 1% on Tuesday morning on the Frankfurt Stock Exchange, while UniCredit shares gained 1.4%.


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