- Honda and Nissan expected to begin merger talks
- 'Draconian' Vietnam internet law heightens free speech fears
- Israeli women mobilise against ultra-Orthodox military exemptions
- Asian markets track Wall St rally as US inflation eases rate worries
- Tens of thousands protest in Serbian capital over fatal train station accident
- Trump vows to 'stop transgender lunacy' as a top priority
- Daniels throws five TDs as Commanders down Eagles, Lions and Vikings win
- 'Who's next?': Misinformation and online threats after US CEO slaying
- Only 12 trucks delivered food, water in North Gaza Governorate since October: Oxfam
- Langers edge Tiger and son Charlie in PNC Championship playoff
- Explosive batsman Jacobs gets New Zealand call-up for Sri Lanka series
- Holders PSG edge through on penalties in French Cup
- Slovak PM Fico on surprise visit to Kremlin to talk gas deliveries
- Daniels throw five TDs as Commanders down Eagles
- Atalanta fight back to take top spot in Serie A, Roma hit five
- Mancini admits regrets over leaving Italy for Saudi Arabia
- Run machine Ayub shines as Pakistan sweep South Africa
- Slovak PM Fico on surprise visit to Kremlin
- Gaza rescuers say Israeli strikes kill 35
- 'Incredible' Liverpool must stay focused: Slot
- Maresca 'absolutely happy' as title-chasing Chelsea drop points in Everton draw
- Salah happy wherever career ends after inspiring Liverpool rout
- Three and easy as Dortmund move into Bundesliga top six
- Liverpool hit Spurs for six, Man Utd embarrassed by Bournemouth
- Netanyahu vows to act with 'force, determination' against Yemen's Huthis
- Mbappe back from 'bottom' as Real Madrid down Sevilla
- Ali hat-trick helps champions Ahly crush Belouizdad
- France kept on tenterhooks over new government
- Salah stars as rampant Liverpool hit Spurs for six
- Syria's new leader says all weapons to come under 'state control'
- 'Sonic 3' zips to top of N.America box office
- Rome's Trevi Fountain reopens to limited crowds
- Mbappe strikes as Real Madrid down Sevilla
- 'Nervous' Man Utd humiliated by Bournemouth
- Pope again condemns 'cruelty' of Israeli strikes on Gaza
- Lonely this Christmas: Vendee skippers in low-key celebrations on high seas
- Troubled Man Utd humiliated by Bournemouth
- 2 US pilots shot down over Red Sea in 'friendly fire' incident: military
- Man Utd embarrassed by Bournemouth, Chelsea held at Everton
- France awaits fourth government of the year
- Germany pledges security inquest into Christmas market attack
- Death toll in Brazil bus crash rises to 41
- Joshua bout only fight left for beaten Fury says promoter Hearn
- Odermatt stays hot to break Swiss World Cup wins record
- Neville says Rashford's career at Man Utd nearing 'inevitable ending'
- Syria's new leader vows not to negatively interfere in Lebanon
- Germany pledges security inquest after Christmas market attack
- Putin vows 'destruction' on Ukraine after Kazan drone attack
- Understated Usyk seeks recognition among boxing legends
- France awaits appointment of new government
Germany criticises UniCredit's 'unfriendly' moves on Commerzbank
Italian bank UniCredit's move to increase its stake in German lender Commerzbank, which further fuelled speculation of a takeover bid, was "uncoordinated and unfriendly", the German government said Wednesday.
UniCredit, Italy's second largest bank, said earlier Wednesday it had increased its stake in Commerzbank from 21 percent to around 28 percent.
"UniCredit is once again taking uncoordinated and unfriendly action," said deputy government spokesman Wolfgang Buechner.
"Unfriendly attacks and hostile takeovers are inappropriate in the banking sector," he told a regular press conference.
The Milan-based lender surprised markets and Berlin when it announced in September that it had built a significant stake in its German rival.
UniCredit has since built its exposure to Germany's second-largest bank through derivatives as it awaits regulatory approval to take control of the shares.
A large portion of UniCredit's shares were bought directly from the German government, which sold them off as it looked to unwind its position in Commerzbank.
Berlin still holds a 12-percent stake in the lender, the legacy of a government bailout during the 2008 global financial crisis.
"The federal government, as the largest current shareholder, continues to support Commerzbank in its strategy and independence," Buechner said.
Commerzbank is a "systematically important bank", whose fusion with another large financial entity would entail "considerable risks, including for employees", he said.
UniCredit had described its Commerzbank stake as a "pure investment that can be dissolved at any time", Buechner said.
"The federal government expects that UniCredit will make use of this option."
UniCredit had also "publicly stressed that it did not want to take any further action before the federal elections" slated for February 23, Buechner noted.
Unions have raised fears that a tie-up between the two large banks could bring job losses.
Ch.Kahalev--AMWN