Andrea Orcel has proposed UniCredit's boldest move to date

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Andrea Orcel has proposed UniCredit's boldest move to date

The former UBS chairman has been exploring an alliance with a German state-owned bank for years, but Berlin may resist.

UniCredit's announcement on Wednesday that it was buying a 9% stake in rival Commerzbank surprised the German establishment. But the deal had been in the works for seven years. Commerzbank shares rose 17% in US dollar terms

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