Commerzbank (CRZBY) is open to discussions about a potential tie-up with UniCredit (UNCRY), Olaf Storbeck, Silvia Sciorilli Borrelli, and Owen Walker of The Financial Times reports. UniCredit recently paid EUR 1.4B to acquire a 4.5% stake in the company, which led it to become the second-largest Commerzbank shareholder after the German government. In total, UniCredit has built a 9% stake in the company. This decision could open the door to a long-awaited banking consolidation on the continent.
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