UniCredit gets ECB approval to raise Commerzbank stake past 30%

What happened: UniCredit S.p.A. received ECB authorization to raise its stake in Commerzbank AG above 30%, with no cap on further increases. Key numbers: UniCredit expects to hold roughly 50% of Commerzbank voting rights and gain control around year end. Why it matters: The ECB approval is a key step in UniCredit's acquisition of the German bank and reflects a positive view of the deal and UniCredit's financial position. Market: +1.6% today ($31.52), +30.7% YTD, 0.4x vol — as of 19:32 UTC Coverage: 3 outlets in 24h

UniCredit S.p.A. received ECB authorization to raise its stake in Commerzbank AG above 30%, with no cap on further increases.

The ECB approval is a key step in UniCredit's acquisition of the German bank and reflects a positive view of the deal and UniCredit's financial position. Market: +1.6% today ($31.52), +30.7% YTD, 0.4x vol — as of 19:32 UTC