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UniCredit Secures ECB Nod for Commerzbank Deal | Markets & Money News
UniCredit, Italy’s second-largest bank, has received approval from the European Central Bank to take control of Germany's Commerzbank following a significant acquisition effort. This marks a pivotal step toward what could be Europe’s largest cross-border banking deal since the financial crisis. UniCredit anticipates securing nearly fifty percent of voting rights by year's end, with CEO Andrea Orcel planning to implement changes at Commerzbank starting in January, while delaying merger
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