UniCredit Gets ECB Approval For Commerzbank Takeover

By Valentina ZaUniCredit MIL:UCG, Italy's second-largest bank, said on Thursday that the European Central Bank had authorised it to take control of Commerzbank XETR:CBK, after a hostile takeover offer completed in July lifted its stake in the German rival to 48%.UniCredit needed ECB approval to tak…