Germany Says It Expects UniCredit to Sell Commerzbank Stake

Bloomberg12-18

(Bloomberg) -- The German government strengthened its criticism of UniCredit SpA’s pursuit of Commerzbank AG and called on the Italian bank to reduce its stake hours after it announced the further use...

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The German government expects UniCredit to make use of this option.”UniCredit Chief Executive Officer Andrea Orcel surprised again on Wednesday by announcing the increase of UniCredit’s effective stake, from 21% to 28%. The Milan-based bank has been using derivatives since first disclosing an increased position in its rival since September. That has enabled UniCredit to control voting rights in the German lender without having formal permission from ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"UNCFF":"UniCredito Spa","UNCRY":"UniCredito Spa","BK4207":"综合性银行"},"translate_title":"德国表示预计联合信贷银行将出售德国商业银行股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UNCFF":0.9,"UNCRY":0.9},"content_text":"(Bloomberg) -- The German government strengthened its criticism of UniCredit SpA’s pursuit of Commerzbank AG and called on the Italian bank to reduce its stake hours after it announced the further use of derivatives to increase its control. \n“UniCredit is once again taking uncoordinated and unfriendly action here,” deputy government spokesman Wolfgang Buechner said at a press conference in Berlin on Wednesday. “UniCredit itself emphasizes that the participation in Commerzbank has so far been a pure investment, which could also be dissolved at any time. 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