UniCredit makes takeover bid for Germany's Commerzbank

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Italian bank UniCredit has launched a €35 billion ($40 billion) takeover bid for Germany's Commerzbank, in a major cross-border banking consolidation move. The offer is expected to face significant resistance from the German government, which holds a stake in Commerzbank. The deal would represent one of Europe's largest banking mergers in recent years.

Italian lender UniCredit said on Monday it made a 35-billion-euro ($40 billion) takeover offer for Germany's Commerzbank, a move likely to provoke fierce resistance from the g...