UniCredit, Italy’s second-largest bank, said the European Central Bank authorized it to cross the 30% ownership threshold in Commerzbank and increase its stake without an upper limit. The approval follows the completion in July of UniCredit’s hostile €45 billion takeover offer, which lifted its stake in the German lender to 48%. UniCredit said it expects to take control by the end of the year with about 50% of voting rights, subject to remaining regulatory processes and conditions. Chief Executive Andrea Orcel has pushed Commerzbank to adopt his strategy from January, while deferring a full merger to 2029-2030. The plan has faced opposition from Commerzbank and criticism from the German government, which has called for the bank to retain its Frankfurt headquarters, protect jobs and continue lending to German businesses.