UniCredit raises capital to enable €35 billion bid for Commerzbank
Shareholders approved a share capital increase on Monday to allow the Italian bank to pursue a hostile €35 billion bid for Germany's Commerzbank.
Shareholders in Italy's UniCredit approved on Monday an increase in share capital that enables the bank to mount a €35-billion ($41-billion) hostile bid for its German rival Commerzbank. The approval clears the way for UniCredit to proceed with the takeover attempt.