UniCredit secures 47.6% of Commerzbank, takeover within reach

Italy's UniCredit has secured 47.6% of Germany's Commerzbank shares, bringing a full takeover close. The move faces strong opposition in Germany, including from the federal government, which holds a 12% stake in the lender. A successful deal would unite the second-largest banks of both countries in one of Europe's biggest banking mergers in years.