German regulator assessing UniCredit bid for 29.99% stake in Commerzbank
Updates headline, paragraph 1 with regulator spokesperson and stake
BERLIN, Feb 26 (Reuters) - Italian lender UniCredit CRDI.MI has reported its planned acquisition of a 29.99% minority stake in Germany's Commerzbank CBKG.DE to the German Cartel Office for assessment, a spokesperson for the regulator said on Wednesday.
The application, dated Monday, appears on a list of current merger control proceedings on the office's website.
UniCredit announced an initial 9% stake in Commerzbank in September, angering the German government and the German lender, which has slammed the move as hostile and unilateral.
UniCredit has however not backed down and is also awaiting European Central Bank approval for the stake it has built in the German lender, for the most part using derivatives.
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