UniCredit (UNCRY) has received ECB authorization to acquire a direct stake in Commerzbank (CRZBY) of up to 29.9%. UniCredit said: “However, several further approvals are still required before the c.18.5% shares held through derivatives can be converted into physical shares, including from the Germany Federal Cartel Office. In addition, UniCredit is awaiting the opportunity to initiate a constructive dialogue with the new German government once formed.”
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