Finance
European banking consolidation
UniCredit's stake in Commerzbank rises to 47.6% as Berlin refuses to sell
UniCredit said on Wednesday that its takeover offer for Commerzbank had lifted the stake it can oversee to 47.6%, even though only about 1% of the German bank's free-float investors tendered shares. Berlin, holding roughly 12%, still refuses to sell, and the European Central Bank must now decide whether the Italian lender counts as being in control.