UniCredit Secures ECB's Approval for Commerzbank Stake
ECB approval was expected given UniCredit's financial strength and a supervisory stance which is supportive of consolidation efforts, but it still marks an important step towards what could become Europe's biggest cross-border banking deal since the global financial crisis.
UniCredit wins ECB approval for Commerzbank stake
Italy’s UniCredit has received the go-ahead from the European Central Bank to increase its stake in German rival Commerzbank to up to 29.9 per cent, but said the timeline for deciding on any potential takeover was likely to “extend well beyond the end of 2025”.
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