UniCredit can now raise its Commerzbank shareholding beyond 30% after receiving European Central Bank (ECB) authorization, though the acquisition still depends on later approvals and offer requirements.
The authorization does not prescribe a maximum size for the holding. UniCredit still has regulatory reviews to complete and conditions of its offer to satisfy.
UniCredit places completion of the remaining requirements near year-end and projects that its voting rights will then amount to about half of Commerzbank’s. It says that stake would put it in position to take control.
