Germany seeks to scuttle UniCredit’s bid for Commerzbank, Reuters reports

Germany is seeking to thwart a potential takeover of Commerzbank (CRZBY) by Italian rival UniCredit (UNCRY), a stance that pits the European country against Italy and European regulators, Reuters’ John O’Donnell and Francesco Canepa report, citing several people familiar with government and regulators’ thinking. Berlin was taken aback by the Italian lender’s efforts to build a large stake in state-backed Commerzbank, a move that UniCredit says could ultimately result in a merger, the authors note.