UniCredit Boosts Its Equity Stake in Commerzbank to About 20%
The move gives Milan-based UniCredit about 20% of the effective voting rights and it intends to eventually convert its remaining 'synthetic position' to boost its Commerzbank holding to roughly 29%, according to a statement Tuesday. UniCredit announced the change after receiving approvals from the European Central Bank, German antitrust authorities and the US Federal Reserve.
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