Germany retains Commerzbank stake, halting potential merger with UniCredit amid concerns.

Germany will keep its 12% stake in Commerzbank, halting a potential merger with Italy's UniCredit. Commerzbank's management has expressed concerns that such a merger could harm Germany's economy, particularly affecting lending to small and medium-sized enterprises. UniCredit's recent acquisition of a 9% stake surprised German authorities, leading to backlash. UniCredit, however, claims to operate as a pan-European bank and disputes these concerns.

September 23, 2024
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