ECB gives green light for UniCredit to take control of Commerzbank

What happened: The European Central Bank authorized UniCredit to exceed a 30% equity stake in Commerzbank and increase its holdings with no maximum limit. Key numbers: ECB approval covers stakes above 30%. UniCredit expects about 50% of voting rights and control by the end of the year. Why it matters: Remaining regulatory steps and conditions must be met to finalize the offer for Commerzbank, after which UniCredit would be in a position to assume control of the bank.

The European Central Bank authorized UniCredit to exceed a 30% equity stake in Commerzbank and increase its holdings with no maximum limit.

Remaining regulatory steps and conditions must be met to finalize the offer for Commerzbank, after which UniCredit would be in a position to assume control of the bank.