ECB allows UniCredit to exceed the 30% threshold in Commerzbank and move toward control of the bank
The European Central Bank approved Italian UniCredit exceeding the 30% threshold of Commerzbank's share capital with no upper limit. By the end of the year, the bank expects to obtain about 50% of voting rights and establish control. The deal faces resistance in Germany: the government, which retains a 13.3% stake, is seeking guarantees on jobs and the headquarters in Frankfurt, but Finance Minister Lars Klingbeil called the negotiations constructive.
Dilnoza Rahimova