FRANKFURT: The European Central Bank (ECB) is poised to give Italy’s UniCredit the green light to build up its stake in German rival Commerzbank, a person familiar with the matter has told Reuters, a move that could pave the way for Europe’s biggest cross-border banking deal since the global financial crisis.
ECB employees are likely to complete their analysis of UniCredit’s purchase of 29.9% of Commerzbank by early March, setting the stage for approval by the regulator’s Supervisory Board later in the month, the source said.
