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International Business Times
International Business Times
Business
Sam Reeves with Ljubomir Milasin in Rome

UniCredit Ups Pressure On Commerzbank, Fuelling German Anger

UniCredit Commerzbank Germany Berlin Olaf Scholz Italy
UniCredit has been building up a stake in Commerzbank (Credit: AFP)

Italian bank UniCredit said Wednesday it had boosted its stake in Germany's Commerzbank, intensifying takeover speculation and sparking condemnation from Berlin of an "unfriendly" move at a time the country is in political limbo.

The saga began in September when UniCredit surprised markets and the German government by revealing that it had built a significant stake in Germany's second-biggest lender.

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