Commerzbank headquarters in Frankfurt, Germany, Thursday, September 12, 2024.
Emanuele Cremaschi | Getty Images News | Getty Images
Italy’s UniCredit said on Wednesday it had used more derivatives to boost its potential stake in Commerzbank to 28%, with markets watching to see whether the bank moves to acquire the bank. German bank.
Italy’s second-largest bank said 9.5% of its stake in Commerzbank was obtained through direct shareholdings, and about 18.5% was obtained through derivatives.
UniCredit has applied to the European Central Bank to acquire up to 29.9% of the German bank’s shares and is also bidding for Italian peer Banco BPM.
CNBC has contacted Commerzbank for comment.
This breaking news story is being updated.
