Germany rejected UniCredit's latest Commerzbank stake increase as an "uncoordinated and unfriendly approach" on Wednesday, strongly rebuking the Italian bank. UniCredit, which angered Berlin when it emerged as Commerzbank's biggest private investor in September,

German Economy Minister Robert Habeck said he’s concerned about UniCredit SpA’s approach of Commerzbank AG, adding to opposition in Berlin to a potential deal.

Germany has reportedly opposed UniCredit's latest attempt to increase its stake in Commerzbank, describing the move as "uncoordinated and unfriendly". This response comes as the Italian banking giant UniCredit increased its potential stake in Germany’s Commerzbank to 28% from the current nearly 21% interest, reported Reuters.

Major Italian bank UniCredit is expanding its stake in German lender Commerzbank through financial instruments, with the total position now amounting to around 28%, the Italian bank announced on Wednesday.

Germany will not subject any potential takeover of Commerzbank by Italy's UniCredit to an investment screening, a German government source said on Thursday. The source said that was regardless of whether the German lender were considered so-called critical infrastructure or not.

Major Italian bank UniCredit is expanding its stake in German lender Commerzbank through financial instruments, with the total position now amounting to around 28%, the Italian bank announced on Wednesday.

Italian bank UniCredit said Wednesday it had boosted its stake in Germany's Commerzbank, intensifying takeover speculation and sparking condemnation from Berlin of an "unfriendly" move at a time the country is in political limbo.