(Alliance News) – UniCredit Spa announced that, having received all necessary legal and regulatory approvals – including from the European Central Bank, the German Federal Cartel Office, and the Federal Reserve – it has converted approximately 10% of its synthetic position in Commerzbank into shares, raising its direct shareholding and corresponding voting rights to about 20%.

UniCredit intends to convert the remaining synthetic position, around 9%, into shares in due course, which will bring its voting rights in Commerzbank to approximately 29%, as the company detailed in a statement.

With these moves, UniCredit becomes the principal reference shareholder of Commerzbank.

By Claudia Cavaliere, Alliance News reporter

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