UniCredit announced on Monday it had increased its stake in German lender Commerzbank to around 21% and submitted a request to boost the holding to up to 29.9%.
The Italian bank acquired the additional Commerzbank shares through financial instruments, it said in a Monday statement.
Earlier this month, UniCredit announced it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired from the German government.
However, as was the case for UniCredit, such potential requires action for it to be crystalized," the bank said on Monday.
Commerzbank shares were down 0.4% by 11:50 a.m. London time, while UniCredit shares fell 2.3%.
Persons:
UniCredit, Commerzbank, Berlin
Organizations:
Federal
Locations:
Frankfurt, Germany, Commerzbank, London