Germany mulls law to protect banks from foreign takeovers, Italian newspaper says By Reuters

MILAN (Reuters) – Germany is contemplating introducing a regulation to guard home banks from cross-border takeovers, Italian newspaper La Repubblica reported on Sunday, as Italy’s UniCredit seeks a merger with Germany’s Commerzbank (ETR:).

Berlin was stunned by UniCredit’s swoop to construct a big stake in state-backed Commerzbank, a transfer the Italian financial institution says may result in a merger.

The German authorities may comply with the instance of Poland which has a regulation stopping overseas lenders from shopping for 100% of any Polish financial institution and requires them to stay listed on the Warsaw Inventory Alternate, La Repubblica mentioned, citing a supply near the matter.

Reuters was not in a position to verify La Repubblica’s report.