Germany rejected UniCredit's latest Commerzbank stake increase as an "uncoordinated and unfriendly approach" on Wednesday, strongly rebuking the Italian bank. UniCredit, which angered Berlin when it emerged as Commerzbank's biggest private investor in September,

German Economy Minister Robert Habeck said he’s concerned about UniCredit SpA’s approach of Commerzbank AG, adding to opposition in Berlin to a potential deal.

Germany has reportedly opposed UniCredit's latest attempt to increase its stake in Commerzbank, describing the move as "uncoordinated and unfriendly". This response comes as the Italian banking giant UniCredit increased its potential stake in Germany’s Commerzbank to 28% from the current nearly 21% interest, reported Reuters.

Italian bank UniCredit's move to increase its stake in German lender Commerzbank, which further fuelled speculation of a takeover bid, was "uncoordinated and unfriendly", the German government said Wednesday.

The European banking industry has been supposedly on the verge of a flood of mergers and takeovers for at least a decade — and I’ve spent most of those years writing about why it wasn’t going to happen.

Italy wants UniCredit to disclose full terms of its proposed takeover of smaller rival Banco BPM under "golden power" rules EU governments can use to screen investments in strategic sectors, sources said.

Commerzbank has, like some other banks, had a rocky history with big mergers and acquisitions over the years. These are some of the key moments: The bank was founded in Hamburg and later moved to Berlin. It relocated to Frankfurt in 1970 as one of Germany's leading banks, focusing on retail and corporate customers.

Italian bank UniCredit said Wednesday it had boosted its stake in Germany's Commerzbank, intensifying takeover speculation and sparking condemnation from Berlin of an "unfriendly" move at a time the country is in political limbo.

Major Italian bank UniCredit is expanding its stake in German lender Commerzbank through financial instruments, with the total position now amounting to around 28%, the Italian bank announced on Wednesday.

UniCredit has since built its exposure to Germany's second-largest bank through derivatives as it awaits regulatory approval to take control of the shares. A large portion of UniCredit's shares ...

Germany steps up criticism of UniCredit UniCredit ups Commerzbank stake via derivatives to 28% Seeking authorisation for stake of up to 29.9% UniCredit also trying to buy Italian rival BPM ...

Investors are watching whether UniCredit will proceed with a takeover venture of Germany’s Commerzbank or Italian peer Banco BPM.