Andrea Orcel, chief executive officer of Unicredit, has upped the ambitions of the Italian lender

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UniCredit hikes Commerzbank stake to 28% as CEO Orcel ups ambitions

Investment Banking Editor

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UniCredit has upped its stake in Commerzbank to 28% as the Italian lender looks to make a bid for the German bank. 

The Italian lender said that it has acquired a further 7% in Commerzbank through the use of  derivative instruments. UniCredit is looking to increase its stake in to 29.5%, which is the threshold at which a mandatory bid is required. 

The Italian lender has acquired a further 7% in the German bank through derivative products

Paul Clarke

Europe

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Banking

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