Germany's antitrust authority on
Monday approved UniCredit's upping its stake in Commerzbank from
28% to 29.9% ahead of a full takeover bid.
Italy's second biggest bank is aiming to acquire Germany's
second biggest bank, which has been partly state-owned since a
bailout in 2008.
The German government said the antitrust decision did not change
its own opposition to the takeover.
A spokesperson reiterated that the government "supports the
independence of Commerzbank" and finds "uncoordinated and
hostile takeovers inappropriate."
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