UniCredit is already the leading shareholder in Commerzbank with a stake of 25 percent

UniCredit is already the leading shareholder in Commerzbank with a stake of 25 percent

 MARCO BERTORELLO, Daniel ROLAND

Shareholders in Italy's UniCredit approved on Monday an increase in share capital that enables the Italian bank to mount a 35-billion-euro ($41-billion) hostile bid for its German rival Commerzbank

UniCredit shareholders approved a motion to issue additional shares to raise share capital by up 6.7 billion euros at an extraordinary meeting, the bank said in a statement.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

Tags

Recommended for you