UniCredit says increasing Commerzbank stake to 21% (2)

(ANSA) - ROME, SEP 23 - UniCredit said Monday in a statement that it has entered into financial instruments enabling it to increase its stake in Commerzbank to 21% of the capital.
    Italy's second-largest bank said it has requested the European Central Bank for authorization to raise its stake beyond 10% of the capital to reach a holding of up to 29. 9% in the German bank.
    UniCredit said in the note that it had acquired through financial instruments an additional 11.5% of Commerzbank explaining that "the physical settlement under the new financial instruments may only occur after the required approvals have been obtained".
    In addition to the initial 9%, UniCredit's position now totals around 21%, the lender said. (ANSA).