Commerzbank shares surge on UniCredit stake purchase
) surged 16.7% on Wednesday after Italy's UniCredit acquired nearly a 4.5% stake in the German bank, which was sold by the German government, Reuters reported.
This acquisition came as a surprise, as it was expected that the government would sell the shares to various institutional investors in smaller portions. UniCredit, which already operates in Germany through HVB, had reportedly considered a merger with Commerzbank before Russia's invasion of Ukraine in 2022 disrupted those plans.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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