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UniCredit Gets ECB Green Light to Raise Commerzbank Stake

UniCredit Gets ECB Green Light to Raise Commerzbank Stake

UniCredit UCG 1.33%increase; green up pointing triangle said it received authorization from the European Central Bank to increase its stake in potential takeover target Commerzbank CBK 2.81%increase; green up pointing triangle to up to 29.9% but that it will wait until next year before deciding whether to make a move.
The Italian bank said it still needs the approval from Germany's competition regulator and others before its around 18.5% stake held through derivatives can be converted into physical shares.
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