UniCredit Increases Stake in Commerzbank to 28 Percent Amid Regulatory Scrutiny
UniCredit has raised its stake in Commerzbank to approximately 28 percent and aims to increase this to 29.9 percent. The bank’s investment aligns with its confidence in the German banking sector, although it insists the involvement is purely as an investor. The German government has expressed opposition to UniCredit’s plans, with concerns about potential job cuts at Commerzbank reflected by the union ver.di. UniCredit’s CEO, Andrea Orcel, highlighted potential synergies between the two banks.