Germany's government has sold part of its holdings in Commerzbank, reducing its stake to 12%, while UniCredit has emerged as a major shareholder poised for potential takeover.
The acquisition by UniCredit of a nearly 4.5% stake in Commerzbank for approximately 700 million has sparked discussions around a possible takeover, which UniCredit may consider.
Unions in Germany have expressed concerns that a merger between UniCredit and Commerzbank could harm commercial clients and job security, urging the government to resist further share sales.
The market reaction to UniCredit's acquisition was shock among financial analysts and politicians, as it signifies a strategic move in Germany’s banking landscape.
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