BaFin clears UniCredit application to increase Commerzbank stake

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UniCredit SpA's gradual takeover of Commerzbank AG reached a regulatory milestone when Germany's financial regulator told the Italian bank its application for a controlling stake can proceed. BaFin in late July ascertained the completeness of UniCredit's request to hold more than 30 percent, clearing a procedural hurdle and enabling the formal review to continue. The move does not constitute final approval, but it reduces immediate regulatory uncertainty and means further review, potential conditions, or approvals are the next likely steps before any definitive change in control.

BaFin found UniCredit's application complete to exceed 30 percent ownership.