Italy's UniCredit said Wednesday that
it has acquired a 9% stake in Germany's Commerzbank.
It said it bought about half of the stake via a bid to the
German government, which is seeking to reduce its stake in the
bank after a bailout 16 years ago, and got the rest on the
market.
It paid 13.20 euros per share for the stake from the government.
The move could be the precursor of a takeover.
"UniCredit will submit regulatory filings for authorization to
potentially exceed 9.9% of Commerzbank if and when necessary,"
the Italian lender said.
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