Italy's UniCredit Trades Blows With Berlin Over Commerzbank.

UniCredit, an Italian bank, is seeking to increase its stake in Germany's Commerzbank in order to create a banking champion with nearly $1.5 trillion in assets. However, the German government has expressed opposition to a full acquisition, citing concerns about job cuts, financial influence, and funding for smaller German businesses. UniCredit has already purchased 9% of Commerzbank and has submitted filings to buy up to 29.9%. The European Central Bank must approve any purchase of a bank stake of 10% or more. UniCredit's move signals its determination to overcome German opposition and complete a major cross-border European banking acquisition. [Extracted from the article]