Reported about 1 month ago
Commerzbank AG announced that Jefferies Financial Group Inc. controls 5.33% of its voting rights, surpassing the 5% threshold that necessitates disclosure. This stake is part of Jefferies' strategy to hedge against UniCredit's significant 21% ownership in Commerzbank, mostly via derivatives. UniCredit has also requested approval from the European Central Bank to potentially raise its stake to 29.9%. Commerzbank's CEO highlighted the need for a unified banking market in Europe for successful cross-border deals.
Source: YAHOO