Banks UniCredit raises stake in Commerzbank to 28% as Orcel ups ante on pursuit Published Wed, Dec 18 20243:02 AM ESTUpdated 3 Hours Ago Ruxandra Iordache @RMIordache

in Commerzbank, after offloading a 4.5% stake in September in an effort to exit its position in the lender it bailed out during the 2008 financial crisis. A merger with Commerzbank in Germany, where UniCredit operates through its HypoVereinsbank division, could create synergies in capital markets, advisors, payments and trade finance activity, analysts have previously signaled. UniCredit shares were up 1.1% at 9:44 a.m. London time, with Commerzbank stock rising 3.1%. — CNBC’s Greg Kennedy contributed to this report.