Connect with us

Finance

Stocks making the biggest moves midday: RH, Reddit, Estée Lauder, AMC and more

Published

on

Finance

NVDA, OLLI, BIRK, DIS and more

Published

on

Continue Reading

Finance

Stocks making the biggest moves premarket: GIS, NVDA, JBL

Published

on

Continue Reading

Finance

UniCredit raises stake in Commerzbank to 28% through derivatives

Published

on

The Commerzbank AG headquarters, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024.

Emanuele Cremaschi | Getty Images News | Getty Images

Italy’s UniCredit said on Wednesday it has raised its potential stake in Commerzbank to 28% using further derivatives, as markets watch whether it will take the leap with a buyout of the German lender.

Italy’s second-largest bank said 9.5% of its holding in Commerzbank is through a direct stake and around 18.5% is obtained through derivative instruments.

UniCredit has applied to the European Central Bank for permission to acquire a stake of up to 29.9% in the German bank and simultaneously has a bid in for Italian peer Banco BPM.

CNBC has reached out to Commerzbank for comment.

This breaking news story is being updated.

Continue Reading

Trending