MILAN, June 2 (Reuters) – Italian bank UniCredit has reached a 34.35% direct stake in Commerzbank almost a month into its takeover bid for the German rival, a regulatory filing showed.
Data UniCredit publishes weekly under German takeover rules showed investors had tendered Commerzbank shares representing 7.6% of the Frankfurt-based bank’s capital as of Tuesday.
UniCredit launched its bid on May 5 saying it did not aim for control but only wanted to nudge its 27% stake above 30%.
(Reporting by Valentina Za and Friedrike Heine: editing by Gianluca Semeraro and Gavin Jones)
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