UniCredit acquires nearly 50% stake in Commerzbank

Italy's largest bank, UniCredit, has disclosed that it now holds nearly 50% of shares in Germany's Commerzbank, bringing it close to a full takeover of one of Germany's biggest lenders. The move has been politically contentious in Berlin, where the German government has resisted the Italian bank's advances. UniCredit has been steadily building its stake over recent months.