UniCredit boosts its stake in Commerzbank, applies to own up to 29.9% of the German bank

Core Viewpoint - UniCredit has increased its stake in Commerzbank to approximately 21% and has requested to raise it to up to 29.9%, indicating a strategic move to unlock value within Commerzbank and potentially integrate it with UniCredit for broader benefits [1][2][3] Group 1: Stake Acquisition - UniCredit acquired additional shares of Commerzbank through financial instruments, confirming that half of its initial 9% stake was purchased from the German government [2] - The Italian bank's request to increase its stake to 29.9% reflects its confidence in the potential value of Commerzbank [1][3] Group 2: Government Involvement - The German government has been a significant shareholder in Commerzbank since it provided a bailout of 18.2 billion euros ($20.2 billion) during the 2008 financial crisis [3] - The government announced it does not plan to sell any more shares in Commerzbank, which initially caused a sharp decline in the bank's shares [4] Group 3: Market Reaction - Following the government's announcement, Commerzbank shares fell sharply but later recovered some losses after news of UniCredit's increased stake [4]