Sonia Sirletti

UniCredit SpA said a growing number of Commerzbank AG shareholders have tendered their shares into its takeover offer amid an intensifying argument over whether the take-up accurately reflects investor sentiment.

UniCredit SpA asked Germany’s BaFin to investigate statements by Commerzbank AG that it says have undermined its takeover offer, further ratcheting up tensions between the two banks.

UniCredit SpA and Commerzbank AG descended deeper into hostilities as the Italian lender continues its takeover pursuit of the German rival, with both sides accusing the other of distorting information and both appealing to regulators to step in.

Commerzbank AG investors representing 12.51% of shares took up UniCredit SpA’s €42 billion ($48 billion) takeover offer during the first acceptance period, pushing the Italian lender ever closer toward what would be Europe’s biggest bank deal in decades.

Leonardo Maria Del Vecchio, an heir to the Ray-Ban empire built by his late father, publicly challenged his family’s holding company to back his €10 billion ($11.5 billion) buyout of two siblings days before a crucial June 30 shareholder meeting.

Milan | Leonardo Maria Del Vecchio, an heir to the Ray-Ban empire built by his late father, publicly challenged his family's holding company to

Leonardo Maria Del Vecchio has escalated a battle over one of Europe’s biggest business empires.

Banca Monte dei Paschi di Siena SpA Chief Executive Officer Luigi Lovaglio said he welcomes the competing bids for his bank as they show the value created in the bank’s turnaround, and plans to assess all options in the interest of stakeholders.

UniCredit ist bei der angestrebten Übernahme der Commerzbank einen weiteren Schritt vorangekommen. Nachdem Investoren zum Ende der Offerte genügend Aktien angedient haben, kann die italienische Bank ihren kontrollierbaren Anteil auf 47,6% erhöhen.