1508 GMT - German Union Verdi continues to oppose a potential UniCredit takeover of the German lender, after UniCredit increased its stake to 21% on Monday. Verdi welcomes the German government's decision to not sell any further shares in the German lender from its portfolio to Italy's Unicredit as employees have already made a significant contribution to stabilizing the bank in the past, Verdi Chairman Frank Werneke says. "Particularly at a time of increasing international uncertainty, it is more important than ever for the German economy and especially the German small and medium-sized enterprise sector that the bank maintains its independence," Werneke says. Shares of UniCredit and Commerzbank fall 2.9% and 4.6%, respectively. (helena.smolak@wsj.com)
(END) Dow Jones Newswires
September 23, 2024 11:08 ET (15:08 GMT)
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